Strong flows and growing demand for market data, trading tools and protocols should increase electronification of credit markets, the laggard in fixed income, even as work-from-home norms adjust. Historically low rates and compressed spreads have driven the search for efficiency, which also favors e-trading, and a Gary Gensler-led SEC would likely push to improve credit-market…
Electronic trading is finally taking off in the junk-bond market, where instant messages, phone calls and close-knit relationships have long defined the way of doing business. MarketAxess Holdings Inc. saw high-yield trading jump 52% last month from a year earlier to a record $1.9 billion in average daily volume, the company said last week. Rival…
Bond markets have for years been seemingly close to a tipping point when it comes to electronic trading, yet they could never quite breakthrough. Yet those who closely follow technological advances and market structure were unwavering. “The slow and steady change that has occurred over the past decade will ultimately be seen for the revolution that…
Discerning investors could eke more gains out of developing-nation bonds, but the bulk of the rally in the riskiest corners of the market may have passed. Source: Bloomberg The gap between spreads on emerging-market high-yield debt and global peers has narrowed from a record 470 basis points in May to 127 basis points, close to…
For Vuk Magdelinic, using artificial intelligence in corporate bond trading is more than a promise — it’s a reality. “We can automate 30 percent of a trader’s entire trading workflow,” says the CEO of Overbond, a fixed income AI analytics company. “So, if I’m a trader and I trade 300 transactions a day, 100 out of…
The bond market is largely out of reach for day traders, unless through a proxy, so it would seem safe from the dynamics that have launched volatility in equities like GameStop Corp. Source: MarketWatch But it’s not, exactly. The stunning ascent this month of GameStop GME, -26.15%, AMC Entertainment Holdings Inc. AMC, +5.05% and other heavily shorted stocks targeted by day…
TORONTO, ON and NEW YORK, NY — JANUARY 21, 2021 — Overbond continues to lead the way in the automation of global fixed income trading. The provider of AI quantitative analytics for institutional fixed income capital markets is now the first to integrate Euroclear LiquidityDrive settlement-layer data for fixed income trade automation purposes. “The lack…
BlackRock Inc., which oversees $7.8 trillion in assets globally, remains constructive on risk assets as the vaccine rollout, fiscal and monetary support and healthy consumer demand will drive a “significant earnings recovery.” That’s likely to lead to new investment and a multiyear expansion, according to portfolio managers for the BlackRock High Yield Bond Fund, David…
“Over the next decade we’re going to see an incredible evolution of artificial intelligence,” says Vuk Magdelinic, CEO of Overbond, a fixed income AI analytics firm. “The ’90s were the internet age, the aughts the age of cloud and the ’10s the age of social media. The ’20s will be the age of AI.” Source:…
Fitch Ratings – Chicago – 04 Jan 2021: Fitch Ratings has affirmed Cenovus Energy Inc.’s (CVE) Long-Term Issuer Default Rating (IDR) at ‘BB+’, and senior unsecured ratings at ‘BB+/RR4’, following the close of the Cenovus-Husky merger. The Rating Outlook remains Positive. Source: Fitch Ratings In addition, Fitch has assigned ‘BB+’/’RR4’ ratings to Husky Energy Inc.’s…
With trading volumes for US corporate bonds up
