Knowledge Center

Are new transparency rules changing how bonds trade? TraX Tape reveals the shifts that are already emerging.

Gareth Coltman discusses how MarketAxess is using AI, machine learning, and automation to improve liquidity discovery, counterparty selection and execution, while exploring the opportunities and challenges of agentic AI in institutional trading.

Stellantis’ February reset drove sharper, persistent spread widening than auto peers, while bid-ask widths recovered and Open Trading® indicators remained comparatively resilient over time overall.

Discover how AI is reshaping fixed income trading by enhancing workflows, improving access to data and making human judgement, trust and context more valuable than ever.

Explore how objective measures of axe quality, combined with analytics and dealer selection tools, help traders identify liquidity, improve transparency and enhance execution outcomes.

While Oracle may still carry an Investment grade rating, its 30-year bonds are increasingly trading with high yield characteristics. Our latest AxessPoint dives into the recent liquidity dynamics and trading behavior around the recent rating downgrade.

Executive SummaryMarket impact is measurable and manageable. It is driven by liquidity, size, and execution choice.Median post-trade impact is 13% of the bid-ask spread in US HG and 11% in EUR IG.Liquidity matters most: low-liquidity US HG bonds show nearly twice the median impact of high-liquidi...

The Federal Reserve recently announced the removal of forward guidance. In this analysis we examine how US HG and HY trading activity behaves around historical hike cycles.

Block trading is increasingly being done electronically. Gareth Coltman, Head of Product, EMEA and APAC, MarketAxess, explores what's driving this trend and why it will continue.

AI is reshaping how trading decisions are made across the fragmented fixed income markets, being integrated into pricing, liquidity discovery and execution workflows. Julien Alexandre, Global Head of Research at MarketAxess, outlines the key developments and explores where AI in fixed income might go next.

Automation in European credit trading is moving from early adoption to mainstream execution, driven by greater transparency, deeper liquidity pools and the rapid expansion of high-quality data.

Europe’s bond transparency rules are increasing data, not necessarily clarity. This article explains why usability, cleansing, and context matter now more than ever, and how MarketAxess TraX Tape aims to deliver decision-grade data to the market. 

New data highlights how axe quality continues to strengthen across electronic credit markets, with axed dealers consistently delivering higher response rates, stronger win rates, and more competitive execution than non‑axed alternatives. Drawing on CP+™ pricing data, the analysis shows that well‑maintained axes remain one of the most reliable signals of real liquidity, while greater transparency and performance‑based metrics are helping raise standards across the ecosystem.

Tradability is an AI-generated score designed to predict market liquidity for bonds at a detailed level, factoring in bond, side, and order size to enhance trading decisions. It helps traders identify optimal securities, timing, and execution strategies based on live market conditions and provider interest.

New data shows axe content expanding across major markets while quality and reliability continue to improve, with axed activity consistently outperforming non‑axed trading on response rates, win rates, and execution quality. Powered by CP+ pricing data, axes are an increasingly clear signal of real liquidity and better outcomes for buy‑side traders.

Unprecedented AI infrastructure spending has driven hyperscaler bond issuance to record levels, normalizing once-superior liquidity metrics as dealers adopt a more selective trading posture.

The buy and sell sides are increasingly becoming comfortable with and utilizing automation in credit trading. Ryan Steffen, Product Specialist, explains what's behind this growth and how traders can gain a competitive edge using the MarketAxess suite of automation products, Auto-X™.