Europe Rally Squeezes Subordinated CDS On French Banks

Hedge funds that bought outright protection on the Markit iTraxx European Senior and Subordinated Financials indices to hedge exposure to French banks are trying in vain to unwind positions as European markets have rallied.

  • 07 Jun 2012

Hedge funds that bought outright protection on the Markit iTraxx European Senior and Subordinated Financials indices to hedge exposure to French banks are trying in vain to unwind positions as European markets have rallied.

One London CDS trader said over the past two to three months, hedge funds ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 356,356.29 1337 9.08%
2 JPMorgan 317,952.80 1443 8.10%
3 Bank of America Merrill Lynch 316,523.82 1098 8.06%
4 Goldman Sachs 235,165.28 784 5.99%
5 Barclays 229,116.44 888 5.84%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 34,312.86 161 6.57%
2 Deutsche Bank 34,194.98 116 6.55%
3 Bank of America Merrill Lynch 31,113.25 94 5.96%
4 BNP Paribas 27,479.75 167 5.26%
5 SG Corporate & Investment Banking 23,982.83 136 4.59%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 JPMorgan 19,536.02 78 8.89%
2 Morgan Stanley 16,323.54 83 7.43%
3 Citi 15,750.21 93 7.17%
4 UBS 15,208.47 58 6.92%
5 Goldman Sachs 13,499.48 73 6.15%