Morgan Stanley: Fed buying programme has benefits beyond direct purchases
Analysis of the Federal Reserve’s Secondary Market Corporate Credit Facility (SMCCF) by Morgan Stanley analysts has found that its purchases of exchange traded funds ...
Odd-lot bond case alleges pressure on Bloomberg and collusion
In the US Southern District Court of New York, a class-action lawsuit has been brought against a group of banks, alleging that since 1 August 2006, they have “agreed to ...
Not fighting the Fed on high yield flow
High yield bonds have seen electronic trading in the US increase, with liquidity enhanced by the Federal Reserve’s announcement on 9 April that it would buy into ‘fallen ...
EM in ‘limbo’ provides trading and pricing challenges
Emerging market bond funds have seen outflows continue to slow significantly, with Morgan Stanley’s analysts estimating it at US$1.8 billion, equating to about 0.42% of ...
Buy side finds trading on the turn no less challenging
When everyone was selling and no-one was buying liquidity vanished. However, as bond market outflows lessen, and in some cases reverse, many buy-side traders find they ...
Portfolio trading is booming in liquidity crisis
Ongoing market volatility has led to a spike in popularity of portfolio trading according to trading platforms, dealers and buy-side traders. Market operator Tradeweb ...
The 2020 vision for primary markets
New platform launches in 2020 will see intense competition to manage the bond issuance process. Dan Barnes reports. Traders at buy-side firms are looking for help in the ...
Connectivity vs relationship control is on the agenda at FILS
Support for streaming firm prices is contingent on connectivity between price-makers and price-takers; a big question which will play out over this year’s Fixed Income ...
The fall of Europe’s brokers
Reduced competition could lead to higher prices for buy-side bond traders. The collapse of European brokerage houses is hitting buy-side trading desks in two ways. ...
Direct price streaming will transform credit trading
Banks are providing corporate bond pricing feeds direct to clients shaping new potential execution paths. Dan Barnes reports. Big investment banks including Morgan ...
Rates : Munis : Dan Barnes
Return of muni futures shows the market’s got moxie. The municipal bond market is addressing its problems head on and in doing so, defying regulatory intervention. Dan ...
James Wallin: On valuing the desk
Proving and demonstrating the value of the trading desk at the very highest levels of the organisation creates a virtuous circle of investment and performance, James ...
Demotivated dealers
By Flora McFarlane.
Major concerns raised about repo
By Flora McFarlane.
Fed breaks silence on HFT in treasuries
Having opened the US government debt market to high-frequency trading, authorities now push market participants to “be good citizens”. Dan Barnes reports. The Federal ...
