U.S. Treasury Markets, Electronic Trading and What’s Next

U.S. Treasury Markets, Electronic Trading and What’s Next

Dan Barnes at Trader TV and I spoke about trading activity in the US Treasury market in the midst of constant interest rate uncertainty. Electronic trading activity has largely found equilibrium again following some wild swings at the start of the pandemic. While the summer is likely to remain quiet, we do expect volatility to return in the fall. And, of course, change and innovation in e-trading remain constant!

Talking U.S. Treasurys with Trader TV

Talking U.S. Treasurys with Trader TV

U.S. Treasury markets hit volume records in the spring of 2020, but after the Fed stepped in markets got downright sleepy. OK, well maybe not…

Treasury Market Conversation with Nasdaq TradeTalks

Treasury Market Conversation with Nasdaq TradeTalks

Volumes in the U.S. Treasury market are up in the first few months of 2019, and as Greenwich Associates data shows, so too is competition…

Market Structure Didn’t Cause Volatility – At Least Not This Time

Market Structure Didn’t Cause Volatility – At Least Not This Time

Treasury Secretary Mnuchin recently blamed high frequency trading and the Volcker Rule for recent volatility in the markets.  While I love to see high ranking…

Electronic Trading In Emerging Markets

Electronic Trading In Emerging Markets

I spent the latter part of the summer digging into the state of emerging markets fixed income.  The result was research that acts as both…

Selling Caused The Sell Off, Not High Frequency Trading

Selling Caused The Sell Off, Not High Frequency Trading

Oliver Renick and I had a good discussion about what caused (and didn’t cause) the equity market sell off in October 2018.  I’m a market…

What Is Market Structure, The Video Version

What Is Market Structure, The Video Version

I was asked to present something interesting to a room full of interns and recent college grads.  It was a fun format and I really…

Does passive investing have room to grow?

Does passive investing have room to grow?

Volatility finally returned to the market in the first half of 2018, and by all accounts the market structure held up remarkably well.  To date,…

Regional Bond Dealers are Embracing Electronification

Regional Bond Dealers are Embracing Electronification

A discussion about how commercially available real-time trading technology—the type once only available to the largest institutions–is empowering regional dealers to compete with the global banks…