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Fixed-Income Subscription
We examine the evolution of the fixed-income market, the products, platforms, the role of dealers, institutional investors, and emerging liquidity providers, and the impacts of new and expected regulation.
Our independent third-party analyses form the basis for senior sell-side management to benchmark their client businesses, identify revenue opportunities, assess service quality, and optimize allocation of resources.
What the Buy Side Wants from Bond Trading Venues
Greenwich Blog
Two decades ago, exchanges and electronic trading venues were seen as offering two things—a marketplace for buyers and sellers to interact and market data reflecting the results of those interactions.
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Coalition Index for Transaction Banking – FY23
Greenwich Report
Transaction Banking Revenues grew significantly in FY23 driven by strong growth in Cash Management offset by marginal decline in Trade Finance wherein 2H underperformed 1H.
Streaming Prices Underpin U.S. Treasury Market
Greenwich Report
The majority of the U.S. Treasury market is traded electronically.
U.S. Treasury market volatility declined in March, with the MOVE Index monthly average at 98.63, 35% below its March 2023 value.
U.S. corporate bond activity slowed slightly in March, although it remained elevated on a historic basis.
Coalition Index for Investment Banking - FY23
Greenwich Report
FY23 Coalition Index Investment Banking revenues fell (6)% on a YoY basis.
Over the past three years, leveraged loan markets have been on the same roller coaster as the rest of the fixed-income market. The mostly floating rate market was a port in the storm as interest rates rose and drove down bond prices.
March 2020 was the highest volume month in the history of the U.S. Treasury market with the average daily notional volume (ADNV) hitting $944 billion.