Knowledge Center

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Liquidity under pressure: What oil shocks really do to HY energy markets

Oil shocks test high-yield energy markets fast. This piece explores how liquidity changes under stress, why execution costs rise, and where competition can still unlock better outcomes.

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AxessPoint: Portfolio Trading and price discovery in US IG and HY markets

In our Portfolio Trading vs RFQ List White Paper, we found that PT provides superior execution outcomes for illiquid bonds, particularly when these lower-liquidity instruments are included in well-balanced baskets compared to traditional RFQ list methods. In this AxessPoint, research confirms that PT serves as an effective price discovery mechanism for US IG and HY bonds, with traders leveraging the protocol to access bonds they would otherwise have little opportunity to trade.

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