Massive books in EM as Treasury blip fails to derail buy-side bid

Several big name investors this week called the start of a bond bear market after a back-up in 10 year US Treasury yields but there was little sign of reticence from the emerging markets buy-side, with three sovereigns pulling in jumbo order books.

  • By Virginia Furness
  • 11 Jan 2018

Oman, Turkey and Israel drew combined orders of at least $33bn this week suggesting that the early wobble in Treasuries has had no bearing on demand, and that it is too early to call the end of the EM bond bull run.

The 10 year US Treasury ...

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Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 43,675.85 205 9.38%
2 HSBC 39,382.20 263 8.46%
3 JPMorgan 30,466.42 155 6.54%
4 Standard Chartered Bank 26,630.59 183 5.72%
5 Deutsche Bank 23,248.09 89 4.99%

Bookrunners of LatAm Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 12,159.29 38 17.87%
2 HSBC 7,749.23 19 11.39%
3 JPMorgan 6,852.06 32 10.07%
4 Deutsche Bank 5,950.19 7 8.74%
5 Bank of America Merrill Lynch 4,241.86 18 6.23%

Bookrunners of CEEMEA International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 17,284.85 59 11.22%
2 Standard Chartered Bank 14,736.48 61 9.56%
3 JPMorgan 13,336.18 58 8.65%
4 Deutsche Bank 11,726.59 29 7.61%
5 HSBC 11,633.41 53 7.55%

EMEA M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 JPMorgan 195.08 50 10.55%
2 Goldman Sachs 162.26 37 8.77%
3 Morgan Stanley 141.22 46 7.64%
4 Bank of America Merrill Lynch 114.20 33 6.18%
5 Citi 95.36 35 5.16%

Bookrunners of Central and Eastern Europe: Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 4,408.94 25 13.43%
2 ING 3,108.12 23 9.47%
3 Credit Agricole CIB 2,397.03 10 7.30%
4 MUFG 1,904.23 9 5.80%
5 Credit Suisse 1,802.80 1 5.49%

Bookrunners of India DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 AXIS Bank 6,262.97 112 23.72%
2 HDFC Bank 3,031.20 67 11.48%
3 Trust Investment Advisors 2,793.32 96 10.58%
4 AK Capital Services Ltd 1,915.50 83 7.25%
5 ICICI Bank 1,863.14 64 7.06%