Source: Tradeweb

Tradeweb Markets, a New York-based electronic bond and derivatives trading platform, raised nearly $1.1 billion in its IPO. The company priced 40 million shares at $27, versus original plans to offer 27.3 million shares at $24-$26, for an initial market value of around $6 billion.

Why it matters: It's the second billion dollar+ IPO in the past two weeks, after a five month drought. It's also a nice IPO rebound for top shareholder The Blackstone Group, after its Alight float fizzled.

The bottom line: "Online venues are gaining ground in bond trading, digitizing orders that were once placed over the phone. At MarketAxess Holdings, Tradeweb’s closest listed peer, trading volumes have more than doubled since 2014." — Liz Hoffman & Corrie Driebusch, WSJ

Go deeper

Updated 13 mins ago - Politics & Policy

Trump says he will announce Supreme Court pick on Saturday

Photo: Mandel Ngan/AFP via Getty Images

President Trump tweeted Tuesday that he plans to announce his Supreme Court pick on Saturday. He later told reporters that the announcement will come at 5 p.m.

Why it matters: Republicans are moving fast to replace the late Justice Ruth Bader Ginsburg, which would tilt the balance of the high court in conservatives' favor and have lasting impact on climate policy, immigration and the Affordable Care Act.

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44 mins ago - Economy & Business

Remote work won't kill your office

Illustration: Eniola Odetunde/Axios

We can officially declare the 9-to-5, five-days-a-week, in-office way of working dead. But offices themselves aren't dead. And neither are cities.

The big picture: Since the onset of pandemic-induced telework, companies have oscillated between can't-wait-to-go-back and work-from-home-forever. Now, it's becoming increasingly clear that the future of work will land somewhere in the middle — a remote/in-person hybrid.

FBI: Foreign actors likely to sow disinformation about delays in election results

Photo: Chip Somodevilla/Getty Images

The FBI and Cybersecurity and Infrastructure Security Agency released a public service announcement on Tuesday warning that mail-in ballots "could leave officials with incomplete results on election night," and that foreign actors are likely to spread disinformation about the delays.

The bottom line: The agencies called on the public to "critically evaluate the sources of the information they consume and to seek out reliable and verified information from trusted sources," including state and local election officials.

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