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 JPMorgan 16,575.88 26 9.55%
2 Barclays 15,585.79 20 8.98%
3 Citi 15,428.98 26 8.89%
4 HSBC 12,009.31 18 6.92%
5 BNP Paribas 11,235.58 17 6.48%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 44,056.07 119 12.30%
2 HSBC 30,286.67 79 8.45%
3 JPMorgan 30,034.04 86 8.38%
4 Bank of America Merrill Lynch 28,240.51 84 7.88%
5 Goldman Sachs 26,424.73 60 7.38%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 35,494.64 97 7.67%
2 HSBC 33,049.47 129 7.14%
3 UniCredit 32,836.18 95 7.10%
4 Barclays 32,248.82 64 6.97%
5 BNP Paribas 27,773.05 69 6.00%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 81,546.47 289 6.83%
2 JPMorgan 78,905.10 458 6.61%
3 HSBC 75,168.54 308 6.30%
4 Barclays 61,509.86 242 5.15%
5 Deutsche Bank 54,387.29 174 4.55%