Europe steals DCM crown from US
Europe continues to challenge the US dominance of debt capital markets with more bonds sold in the region for the fourth consecutive quarter. Revenues, however, lag the US, but a strong corporate bond market — in lieu of a functioning loan market — is helping the region catch up.
Europe had a 48% market share of total DCM issuance in the first quarter, ahead of the US at 37%, said data provider Dealogic.
This marks a shift in dominance for DCM volumes. Over the last decade, the US has led Europe.
This increase in volumes also affected DCM revenues.
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