Structured Credit Survives Auto Downgrades

The downgrade of U.S. autos in May triggered days of panic and structured credit pricing dislocation, but the credit market absorbed the subsequent correlation crisis, said a panel of credit derivative executives.

  • 23 Sep 2005
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The downgrade of U.S. autos in May triggered days of panic and structured credit pricing dislocation, but the credit market absorbed the subsequent correlation crisis, said a panel of credit derivative executives. "The market passed the test when it came under stressed liquidity," noted Pierre Mathieu, European head of credit flow trading at BNP Paribas.

Dealers noted, however, May's pandemonium has left investors and dealers more risk adverse when it comes to structured credit. The long-term fallout is a shift in the market's risk appetite towards structures with strong protection from loss, agreed other panelists.

  • 23 Sep 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Citi 253,106.92 930 8.89%
2 JPMorgan 230,914.50 1036 8.11%
3 Bank of America Merrill Lynch 221,389.46 762 7.78%
4 Goldman Sachs 171,499.26 554 6.03%
5 Barclays 169,046.60 646 5.94%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Jul 2017
1 HSBC 27,039.93 106 7.36%
2 Deutsche Bank 25,125.19 81 6.84%
3 Bank of America Merrill Lynch 23,128.33 61 6.29%
4 BNP Paribas 19,315.94 110 5.26%
5 Credit Agricole CIB 18,706.93 106 5.09%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Jul 2017
1 JPMorgan 13,488.13 59 8.47%
2 Citi 11,496.21 73 7.22%
3 UBS 11,302.86 45 7.09%
4 Morgan Stanley 10,864.95 59 6.82%
5 Goldman Sachs 10,434.21 54 6.55%