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 12,417.34 15 11.10%
2 JPMorgan 10,784.81 16 9.64%
3 Citi 9,836.54 17 8.80%
4 NatWest Markets 8,487.83 7 7.59%
5 HSBC 7,788.95 12 6.97%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 28,901.35 74 12.48%
2 HSBC 22,334.06 48 9.64%
3 JPMorgan 19,145.59 51 8.27%
4 Deutsche Bank 17,915.81 27 7.74%
5 Bank of America Merrill Lynch 16,436.98 51 7.10%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 24,223.40 52 8.63%
2 Barclays 21,482.86 36 7.65%
3 UniCredit 19,921.86 49 7.10%
4 Credit Agricole CIB 18,862.23 49 6.72%
5 HSBC 18,112.51 64 6.45%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 51,595.93 277 7.25%
2 Citi 50,929.52 181 7.15%
3 HSBC 46,450.64 170 6.52%
4 Barclays 40,928.81 133 5.75%
5 Deutsche Bank 37,881.53 100 5.32%