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Executive Summary

On June 10, we learned that inflation in May showed no sign of slowing. And then on June 15, the Fed raised rates 75 bps for the first time in many traders’ careers. Those announcements drove up market volume and volatility everywhere, with credit markets no exception. The average daily volume in June for U.S. corporate bonds was up 6% from last year, while e-traded volume grew an impressive 25%, equating to $14.8 billion traded per day over the month.

Methodology

Coalition Greenwich continuously gathers data and insights from credit market participants, including market makers, primary dealers and trading platforms. The data, once aggregated, normalized and enhanced, is analyzed by our market structure research team who identify the key trends of trading in the credit markets, with a focus on corporate bond electronic trading and trading platform market share.