Inflation the focus for IG corporate bond investors

The bond markets have been muted in their response to last week’s equity market volatility. Corporate bond investors did not suffer the heavy losses or wild intraday swings their equity peers had endured, leaving them to focus back on fundamentals.

  • By Nigel Owen
  • 14 Feb 2018


“While we can’t completely ignore the equity markets,” said a portfolio manager at a London based insurance company, “the key fundamental for us this month has always been the inflation data due this week.

“UK inflation surprised to the upside on Tuesday,” he said. “That backs ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 13,508.50 73 5.45%
2 Citi 13,447.51 80 5.43%
3 JPMorgan 12,717.05 67 5.13%
4 Deutsche Bank 11,374.55 53 4.59%
5 BNP Paribas 10,639.25 48 4.29%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 5,332.16 20 12.18%
2 Deutsche Bank 4,147.60 17 9.47%
3 Bank of America Merrill Lynch 2,718.56 9 6.21%
4 UniCredit 2,637.10 11 6.02%
5 SG Corporate & Investment Banking 2,365.25 11 5.40%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 807.11 8 8.39%
2 Morgan Stanley 732.63 4 7.62%
3 Goldman Sachs 657.29 6 6.83%
4 Credit Suisse 577.70 7 6.01%
5 JPMorgan 572.76 6 5.96%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 3,899.63 30 8.58%
2 JPMorgan 3,874.29 30 8.53%
3 Credit Suisse 3,350.85 23 7.37%
4 Wells Fargo Securities 3,129.35 23 6.89%
5 Bank of America Merrill Lynch 2,721.10 26 5.99%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 5,027.03 18 9.90%
2 Deutsche Bank 3,888.62 16 7.66%
3 JPMorgan 2,673.61 9 5.27%
4 SG Corporate & Investment Banking 2,480.92 11 4.89%
5 Bank of America Merrill Lynch 2,451.71 7 4.83%