Market Transparency Reports

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Tradeweb Direct: Retail and Middle Markets
Transparency Reports

Monthly Guide to the U.S. Retail Fixed Income Markets

Tradeweb Direct regularly publishes our own market commentary and analysis, including our monthly Market Transparency Report. The data and analysis contained in this monthly report are intended to provide transparency into the dynamics of the U.S. Fixed Income markets for retail investors. The report presents the important trends in the market, including trade volumes, most active issuers, yield/spread movements and buy/sell ratios. Retail trades are defined as odd-lot transactions under 100 bonds (i.e. less than $100,000 par value). The retail market is much smaller than the institutional market on a par value basis, but it accounts for more than 2/3 of the trades that occur in the marketplace.

February Market Transparency Report

Agency: Agency median yield was -9bps lower, daily trading volume decreased -9.0%. Buy/Sell Ratio was flat.

CD: Median CD yield was 5bps higher, trading volume increased 11.6%. Buy/Sell Ratio was 1.3 higher.

Corporates: Corporate median yield was -18bps lower; daily trading volume increased 18.8%. Buy/Sell Ratio was 0.2 higher.

Municipal: Median yield was -15bps lower; daily trade volume decreased -4.5%. Buy/Sell Ratio was flat.

Treasury: Median yield was 1bps higher; daily trade volume decreased -3.2%. Buy/Sell ratio was 0.6 higher.

PDF Download

Tradeweb Direct Market Transparency Report_February 2025.pdf