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Capital markets participants are nearly unanimous in the belief that almost every aspect of the markets is changing: international regulation, capital requirements, liquidity, and instrument structures , just to name a few.

November saw the release of mixed economic data and the decline in indicative borrowing costs to record low levels for several eurozone countries.

ESMA has now issued its final draft regulatory technical standards (RTS) that define the scope of interest rate swaps that must be cleared under European Markets Infrastructure Regulation (EMIR).

Despite record US equity prices and an improving economy, the underlying theme of 2014 was one of disappointment – in the levels of liquidity in most markets, in the spreads that market-makers were seeing, in the rising cost of being a market-maker, and in the ability of regulators worldwide to get their acts together.

On-SEF volumes plummeted in November, reminding us that one year in, SEF trading may be out of its infancy, but growing pains are still very much part of the market’s present and future.

Yields on 10-year U.S. Treasury securities were flat today, according to data from Tradeweb.

Yields on 1-month U.S. Treasury securities hit a multi-year high, according to data from Tradeweb.

Yields on U.S. Treasury securities rose today following the release of Fed minutes, according to data from Tradeweb.

MiFID 2 and MiFIR appear to offer inconsistent and sometimes contradictory definitions of third-country firms, creating regulatory uncertainty and forcing firms to ask some difficult questions about their business in Europe.

Yields on 10-year U.S. Treasury notes increased today, according to data from Tradeweb.