Tradeweb Faces Flatter Curve With More Bond Sales, CEO Says
- Shares drop as much as 3.8% after quarterly results reported
- Will have hard time matching 1Q without volatility: Larry Tabb
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Tradeweb Markets Inc.’s rates business is facing a “mixed macro background,” according to Chief Executive Officer Lee Olesky.
The electronic trading firm is grappling with headwinds from low volatility and a flatter yield curve. Yet, it’s also benefiting from tailwinds of a “huge” amount of issuance in the government bond market in Europe, the U.S. and Asia, “all the way to China,” Olesky said in a phone interview. Tradeweb’s mortgage business is also “doing quite well,” with elevated refinancings, he added.