A Market Transformed: BondWave Trade Insights
5/20/26 TabbFORUM
The corporate bond market has undergone a major structural shift, with traders increasingly aligning executions to the benchmarks used to measure performance. As portfolio trading has gained traction, more trading volume has concentrated around index calculation windows, driving a growing emphasis on average pricing and tighter alignment with broad market indexes. The result is a market where execution timing, benchmark sensitivity, and portfolio-based trading strategies are becoming more interconnected, writes Paul Daley, Managing Director, Fixed Income Lab for BondWave. open website
