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
  • 13 Mar 2017
1 JPMorgan 94,925.33 384 8.39%
2 Citi 87,531.58 331 7.74%
3 Bank of America Merrill Lynch 84,341.49 288 7.46%
4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 May 2017
1 Deutsche Bank 19,381.65 47 8.82%
2 Bank of America Merrill Lynch 18,968.25 36 8.63%
3 HSBC 18,103.95 50 8.24%
4 BNP Paribas 8,911.57 55 4.05%
5 SG Corporate & Investment Banking 8,885.00 54 4.04%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 May 2017
1 JPMorgan 8,714.26 35 8.36%
2 UBS 8,283.47 33 7.95%
3 Goldman Sachs 7,736.57 37 7.42%
4 Citi 6,897.11 46 6.62%
5 Bank of America Merrill Lynch 6,215.31 24 5.96%