• It's Here!

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

  • It's Here


    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

Anyone actively participating in US equities will tell you that market volumes have been abysmal lately. Broker-dealers have been getting crushed, including the bulge bracket banks as market volumes continue to drop. When volume isn't there, brokers aren't making money and that puts a strain on any company with a capital markets business.

The year over year chart shows that volume in 3Q12 was down 41% YoY, partly attributable to a tough +12% comp in 3Q11. Nevertheless, this is the largest YoY decline in volume in the last three years. On a sequential basis, volume was down 17% in 3Q12.  

NYSE Volume Continues To Fall - volume QoQ

NYSE Volume Continues To Fall - Volume YoY