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The European Union’s stepped-up role as a central funding source for member states as they recover from the coronavirus pandemic positions it in a unique spot among supranational borrowers. Issuance of Support to mitigate Unemployment Risks in an Emergency (SURE) bonds over the past year and a further €800bn of potential new debt have transformed the borrower into a market bellwether, with liquidity and other market metrics commensurate with other leading European government and supranational names.
The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms.
The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms.
Tomorrow we commemorate the 20th anniversary of 9/11, mourning the innocent lives lost that day and in the years that followed. We honor the countless examples, known and unknown, of individual sacrifice and true heroism. We remember the human toll, and we reflect on how the events of that day have reshaped our world.
Decades from now, when future generations of analysts chart historical trends in corporate credit market activity, there will always be an asterisk on 2020. Just like credit default swap spreads in 2008 or a snapshot of the S&P 500 in October of 1987, those of us who experienced the massive moves of 2020 will feel compelled to explain to our younger colleagues where we were when it all began to unfold. We might also talk about the record $3.2 trillion in global rated corporate bond issuance, total outstanding corporate debt levels rising 7.6% to $22.1 trillion, record low yields and the $573 billion spike in high-yield debt outstanding – and the fear that liquidity could dry up at any moment catapulting the markets into chaos.
The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms.
On July 26, 2021, dealer-to-dealer swaps markets officially moved to a SOFR-first posture in the U.S. In August we examined the initial market impact, and we’re returning to the topic to demonstrate how institutional client engagement has progressed.
The sell-off that took hold of government bond markets in recent months reversed in November, with yields on 10-year Austrian, Danish, Finnish and Dutch debt returning to negative territory.
The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms.
The theme for International Women’s Day this year, which was officially celebrated earlier this week, is #BreakTheBias. To commemorate this day, Tradeweb’s Global Women’s Network hosted a panel for employees that featured senior women across the firm discussing what #BreakTheBias means to each of them. I was delighted to join this discussion and share my own experiences with our colleagues. It is so important to host these conversations because dialogue encourages others to advocate for change.