Corporate bond investors see more of the same in IG and HY for 2018

Investors’ attentions have turned to 2018 in the absence of any new IG corporate bonds this week. And, despite tight spreads and low yields, they expect similar conditions to prevail, albeit providing lower returns given the lower starting point than 2017.

  • By Nigel Owen, Victor Jimenez
  • 13 Dec 2017

“We see a synchronised global expansion with room to run in 2018 and beyond, albeit with less scope for upside growth surprises,” said Richard Turnill, global chief strategist at BlackRock.

Turnill expects low volatility to persist, and the hunt for yield to cap any rises in long-term ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 75,347.35 359 5.93%
2 Bank of America Merrill Lynch 74,239.03 342 5.84%
3 Citi 61,954.56 351 4.87%
4 Barclays 58,729.13 218 4.62%
5 Goldman Sachs 50,207.03 203 3.95%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 18,045.93 79 9.43%
2 SG Corporate & Investment Banking 13,968.96 63 7.30%
3 Deutsche Bank 12,777.94 56 6.67%
4 UniCredit 10,968.94 48 5.73%
5 HSBC 10,482.96 60 5.48%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 3,647.43 42 7.27%
2 JPMorgan 3,279.22 34 6.53%
3 Deutsche Bank 3,153.00 28 6.28%
4 Credit Suisse 2,939.41 27 5.86%
5 Goldman Sachs 2,892.87 27 5.76%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,575.71 111 9.62%
2 Citi 10,815.50 91 7.67%
3 Goldman Sachs 9,536.47 76 6.76%
4 Bank of America Merrill Lynch 9,455.18 88 6.70%
5 Barclays 9,449.01 71 6.70%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 18,928.06 77 6.44%
2 Barclays 17,915.82 53 6.09%
3 HSBC 17,859.84 77 6.07%
4 Citi 15,926.05 64 5.42%
5 JPMorgan 15,445.30 54 5.25%