The Loan Lowdown: Volatility’s impact on Leveraged Loans
Howard Cohen, Head of Leveraged Loans at MarketAxess.
Since early April, the leveraged loan market has trended in one direction. Risk assets have continued to...
Examining the (Thames) Water fall
In 2013 when markets still looked precarious amid the fallout from the financial crisis, utilities were a good investment.
With a near cast-iron cashflow...
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The impact of trading long-dated bonds
Faced with the prospect of climbing rates, some investors will be looking to switch out of lower coupon bonds to capture higher returns. However,...
Analyzing chair Gensler’s comments on TRACE reporting
By Julien Alexandre & Grant Lowensohn
Highlights
The SEC chair recently announced the SEC was considering reducing the reporting window for US corporate bond transactions to...
Europe sees big drops in implied liquidity costs
Since the start of 2023, European corporate bonds have seen a greater drop in bid-ask spreads than has been seen in their US investment...
Shielding from exploding issuance
US fixed income markets saw issuance in Q1 2024 hit US$2.5 trillion according to the Securities Industry and Financial Markets Association (SIFMA), an increase...
New issuance drives up secondary selling
News that high yield (HY) issuance has fallen in Europe may be of little consolation to investment grade investors, as new data from MarketAxess...
Seeing the pressure market makers are under in European credit
Secondary market data paints a picture of the challenges faced by sell-side market makers in the European corporate bond market during Q4. Information from...
Pacific Western and Banc of California merge, sell US$1.9bn in bonds, munis and treasuries
Banc of California has today completed its merger with PacWest Bancorp, with both firms shedding billions of dollars’ worth of agency commercial mortgage-backed securities,...
Emerging markets trading costs threaten to rise
Emerging market bond traders will see trading costs rising as volumes begin to decline. According to MarketAxess data from its CP+ pricing tool and...
