Fed rate path unclear but SSAs still finding dollar audience

Disagreement among members of the US Federal Open Market Committee over where inflation could be headed is leading to an uncertain picture over the future of the Federal Reserve’s target rate. Despite that uncertainty, public sector issuers in the dollar market once again enjoyed another strong week of issuance.

  • By Craig McGlashan
  • 17 Aug 2017

Minutes published on Wednesday of the FOMC’s last meeting, in July, showed that some members expect inflation to pick up over the next few years, while others are concerned it may stay below the central bank’s 2% target over the longer term.

That led to a shift in ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 18,481.15 26 8.94%
2 HSBC 16,094.53 24 7.78%
3 BNP Paribas 15,919.65 22 7.70%
4 Barclays 15,034.43 23 7.27%
5 Goldman Sachs 14,733.99 25 7.12%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 53,381.13 125 11.97%
2 Citi 51,264.15 129 11.50%
3 HSBC 34,944.78 85 7.84%
4 Bank of America Merrill Lynch 33,716.38 102 7.56%
5 Deutsche Bank 29,250.35 70 6.56%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 34,197.39 111 7.28%
2 UniCredit 33,245.54 113 7.07%
3 Barclays 32,006.38 77 6.81%
4 Goldman Sachs 31,731.55 86 6.75%
5 BNP Paribas 31,417.86 66 6.68%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 93,349.49 315 7.35%
2 JPMorgan 93,202.80 530 7.34%
3 HSBC 80,436.02 287 6.33%
4 Bank of America Merrill Lynch 65,740.76 209 5.18%
5 Barclays 65,629.97 205 5.17%