US Treasury Market Structure Is Definitely Changing

US Treasury Market Structure Is Definitely Changing

Greenwich Associates just published my recent work examining changes to how US Treasurys are traded.  After years of little change, some real disruption now seems…

Electronic Trading Rises With Market Volatility

Electronic Trading Rises With Market Volatility

U.S. Treasury volumes in October hit their highest level since May 2018, with an average daily volume of $554 billion. The equity market’s precipitous decline…

Understanding The US Bond Market

Understanding The US Bond Market

The $41 trillion U.S. bond market allows corporations to grow, governments to finance themselves efficiently, investors to gain fixed returns with lower risk, communities to build infrastructure,…

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…

Adapting to changes in the bond market

Adapting to changes in the bond market

The bond market increasingly goes electronic. How are investors embracing this? Kevin McPartland, Head of Market Structure Research at Greenwich Associates, joins Jill Malandrino at…

Yellen, Bond Liquidity and Why Sales Traders Matter with Bloomberg TV

Yellen, Bond Liquidity and Why Sales Traders Matter with Bloomberg TV

This was my first time chatting with Betty Liu at Bloomberg TV, which I really enjoyed. We discussed why the Fed shouldn’t hyper focus on…

Talking US Treasury Market Structure with FIA

Talking US Treasury Market Structure with FIA

Its been way too long since I’ve posted. Funny how writing for a living makes it hard to write your own blog. Something like “the…

Is a crisis a crisis if everyone knows its coming?

Is a crisis a crisis if everyone knows its coming?

(also published on the Greenwich Associates blog) A crisis is a crisis because most people didn’t see it coming. Unexpected events freaks people out causing…

15 for 15: Top Market Structure Trends to Watch in 2015

15 for 15: Top Market Structure Trends to Watch in 2015

Market structure happenings have been fast and furious since 2009, and 2014 did not disappoint.  Mandatory SEF trading finally began, fixed income electronic trading continued…

The US Invasion of European Fixed Income

The US Invasion of European Fixed Income

Capital is expensive and getting more expensive.  But the problem is proving a much harder one to manage in Europe, with European banks continuing to…