SSAs go short in dollars as swap spreads widen

A pair of public sector borrowers are bringing short end dollar benchmarks as ever widening swap spreads support trades at that part of the curve.

  • By Craig McGlashan
  • 12 Mar 2018
Asian Development Bank is out with a March 2023 global, its first dollar benchmark since a dual tranche three and 10 year in January. Leads Bank of America Merrill Lynch, HSBC, Morgan Stanley and RBC Capital Markets circulated initial price thoughts of 11bp area ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 14,544.75 18 10.40%
2 JPMorgan 13,122.11 20 9.38%
3 Citi 12,168.30 20 8.70%
4 HSBC 10,850.10 15 7.76%
5 NatWest Markets 9,080.61 8 6.49%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 34,311.36 90 12.26%
2 JPMorgan 25,730.35 63 9.20%
3 HSBC 23,733.08 55 8.48%
4 Bank of America Merrill Lynch 21,395.48 63 7.65%
5 Deutsche Bank 19,993.80 31 7.15%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 31,770.50 80 8.38%
2 Barclays 27,937.95 51 7.37%
3 HSBC 26,536.90 91 7.00%
4 UniCredit 26,134.28 69 6.89%
5 BNP Paribas 24,736.61 55 6.52%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 67,204.78 382 7.08%
2 Citi 65,429.26 239 6.90%
3 HSBC 60,207.28 225 6.35%
4 Barclays 52,392.60 191 5.52%
5 Deutsche Bank 45,523.05 141 4.80%