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Bond Trade Cheapest Since ’07 Hits Record Amount: Credit Markets

Investors are paying the least in six years to trade U.S. corporate bonds as they transact more frequently than ever, adapting to a Wall Street where dealers commit less money to facilitate buying and selling.

Corporate-bond buyers are paying an average 12 basis points, or 0.12 percentage point, in each trade, down from as much as 56 basis points during the height of the financial crisis in 2008, according to Barclays Plc data. Volumes as a proportion of the total market are starting to climb for the first time in three years, with a record daily average of $12.8 billion traded in 2013, Financial Industry Regulatory Authority and Bank of America Merrill Lynch index data show.