Fixed income disappoints as Trump trades fade

Following a fourth quarter in 2016 that saw frenzied trading on the back of Donald Trump’s election as president, a rally in US stocks and a steepening yield curve, the biggest US banks saw trading revenues slide at the end of last year.

  • By Owen Sanderson
  • 18 Jan 2018

Fixed income trading, the largest wholesale business at every bank but Morgan Stanley, was down double digit percentages from 2016.

JP Morgan’s revenues were down 34% to $2.22bn, Citi’s were down 18% to $2.41bn and Bank of America was down 13% to $1.7bn. Morgan Stanley was down 45% ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 328,982.98 1272 8.11%
2 JPMorgan 320,525.86 1391 7.90%
3 Bank of America Merrill Lynch 295,678.15 1012 7.29%
4 Barclays 247,860.38 923 6.11%
5 Goldman Sachs 218,821.95 732 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 46,136.68 182 7.00%
2 JPMorgan 44,443.20 92 6.75%
3 UniCredit 35,639.50 153 5.41%
4 Credit Agricole CIB 33,211.72 160 5.04%
5 SG Corporate & Investment Banking 32,419.80 126 4.92%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,755.50 61 8.97%
2 Goldman Sachs 13,204.47 65 8.61%
3 Citi 9,716.40 55 6.34%
4 Morgan Stanley 8,471.86 53 5.53%
5 UBS 8,248.12 34 5.38%