JP Morgan tells US securitization buyers to get on the defensive

At JP Morgan’s fixed income markets 2018 outlook conference in New York on Tuesday, investors were advised to move into more defensive positions, with macro factors expected to weigh on credit next year.

  • By David Bell
  • 28 Nov 2017

Most analysts at the conference recommended moving up the capital structure in their respective asset classes, given the historically tight levels that most products are now trading at and the risk of external shocks to credit markets next year.

The macro headwinds that were cited most often at ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 120,126.76 346 12.85%
2 Bank of America Merrill Lynch 99,988.41 288 10.70%
3 Wells Fargo Securities 88,516.28 265 9.47%
4 JPMorgan 69,113.88 208 7.39%
5 Credit Suisse 51,313.00 155 5.49%