BNP Tips Tapering Strategy Ahead of Bernanke Address

Investors should buy receiver spreads 1x2 and ladders on the iTraxx Main, since such instruments offer a cheap or zero cost way to construct a bullish position ahead of an address by Ben Bernanke, the chairman of the Federal Reserve, at the Federal Open Market Committee on June 19. Bernanke is expected to announce that the Fed will begin tapering monetary policy in the U.S., leading some strategists to take a position on the iTraxx Main that will benefit in the event that the index tightens.

  • 17 Jun 2013
Investors should buy receiver spreads 1x2 and ladders on the iTraxx Main, since such instruments offer a cheap or zero cost way to construct a bullish positionahead of an address by Ben Bernanke, the chairman of the Federal Reserve, at the Federal Open Market Committee on June ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 358,291.38 1348 9.06%
2 JPMorgan 320,704.66 1461 8.11%
3 Bank of America Merrill Lynch 318,128.31 1104 8.04%
4 Goldman Sachs 236,643.87 789 5.98%
5 Barclays 231,197.41 895 5.84%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 35,007.57 165 6.53%
2 Deutsche Bank 34,880.53 120 6.51%
3 Bank of America Merrill Lynch 31,805.65 97 5.93%
4 BNP Paribas 27,920.60 169 5.21%
5 SG Corporate & Investment Banking 24,398.89 138 4.55%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 19,745.92 80 8.85%
2 Morgan Stanley 16,334.63 83 7.32%
3 Citi 15,972.34 95 7.16%
4 UBS 15,487.17 60 6.94%
5 Goldman Sachs 14,053.61 76 6.30%