Junk Traders Shift From Old Habits as Electronic Market Expands
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…
