MarketAxess Q3: Steady Beat Amid U.S. Credit Headwinds, Fairly Valued For Now

Core Insights - MarketAxess (MKTX) has performed well during a quieter period in U.S. credit markets, despite facing softer end demand and some investor frustration [1] Company Performance - The latest quarterly results of MarketAxess exceeded expectations, indicating resilience in its operations [1] Investment Philosophy - The company is characterized by disciplined capital allocation and the ability to generate exceptional returns on capital, which aligns with the investment philosophy of focusing on high-quality stocks and businesses [1]