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 165,175.88 645 7.88%
2 JPMorgan 156,487.83 676 7.46%
3 Bank of America Merrill Lynch 152,294.90 499 7.26%
4 Barclays 132,291.23 454 6.31%
5 HSBC 113,665.79 526 5.42%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 25,941.92 30 9.52%
2 Citi 16,837.08 38 6.18%
3 SG Corporate & Investment Banking 15,661.30 47 5.75%
4 Deutsche Bank 14,193.64 44 5.21%
5 Bank of America Merrill Lynch 13,028.84 31 4.78%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 6,961.44 31 9.14%
2 JPMorgan 6,815.38 29 8.95%
3 UBS 5,503.59 15 7.22%
4 Citi 5,145.98 30 6.75%
5 Deutsche Bank 4,303.27 25 5.65%