One of the big players in the fixed income market, BlackRock, is out with news that it will be providing a “crossing platform” to allow the world’s largest institutional players to trade bonds with each other:
As investors left the equity markets today, they moved into the fixed-income markets. The benchmark for bonds, the 10-year U.S. Treasury, had sharp gains and is now trading at 2.40 percent. The muniland equivalent benchmark, the 10-year AAA muni, ended at a slightly lower yield of 2.38 percent. (Remember the muni AAA has lovely tax advantages that push its yield much higher. Consult your accountant).