The big issue
Corporate bond issuance has boomed at the start of 2024, at a point when rates are peaking. They may not be that high in...
Hold me now!
“Hold me now,
Whoa, warm my heart,
Stay with me!”
This Thompson Twins’ classic could be sung by corporate bonds to the sell-side community, who saw their...
Trade sizes rise in Europe, fall in US
The end of 2024 indicates is seeing quite different changes to trade sizes in the corporate bond markets of Europe and the US, according...
Chart of the week: Get in early
Access to primary bond markets has been a headline topic for buy-side traders over the last four years. As issuance volumes have grown, rising...
The Atlantic divide over high yield – is private credit biting?
Issuance of USD versus Euro high yield debt shows a significant split, based on Dealogic data, with US markets in 2024 issuing more than...
China focus: The outstanding debt of defaulters
Concern around issuer defaults in China is clearly based upon good evidence; our chart this week from S&P Global Ratings shows the annual growth...
Review of 2023 Trading: Trade sizes falling – in parts…
Looking back at this year’s trading activity, through analysis of MarketAxess Trax data and TRACE for US markets, we can see clear patterns emerging...
The effect of war on pricing and spreads is widening
The economic effect of the Russian invasion of Ukraine needs to be put in context next to the human tragedy, but data is showing...
Upping strike rate and strength in US IG
We often hear ‘nothing really changes’ in relation to capital markets so it is good to have an insight into real progress, courtesy of...
Are average trade sizes really falling in the US?
Earlier this year we noted that average trade sizes were down considerably on 2022, but being wary of mean reversion, we wanted to revisit...
