Italy leak causes BTPs to gap but SSAs sanguine

A leaked draft of a coalition agreement between Five Star and the Northern League, which are in discussions over forming a government in Italy, caused investors to dump Italian debt, blowing BTP yields out by 9bp.

  • By Craig McGlashan, Lewis McLellan
  • 16 May 2018

The document details the two parties’ ambitions to leave the eurozone, petition the European Central Bank to write off €250bn of its holdings of Italian debt and scrap sanctions on Russia.

While the authenticity of the document is not in question, the leaders of the parties claim that it ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 4,065.52 3 14.97%
2 Citi 3,902.17 4 14.37%
3 HSBC 3,735.13 3 13.76%
4 BNP Paribas 3,073.09 4 11.32%
5 Barclays 2,241.64 2 8.26%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 5,565.84 10 14.09%
2 JPMorgan 5,515.04 10 13.96%
3 Barclays 4,957.18 5 12.55%
4 HSBC 4,303.49 5 10.89%
5 BNP Paribas 3,164.15 4 8.01%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 8,508.82 10 12.85%
2 UniCredit 6,939.32 10 10.48%
3 HSBC 5,618.01 6 8.48%
4 BNP Paribas 5,054.90 8 7.63%
5 Bank of America Merrill Lynch 4,801.82 6 7.25%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 14,694.12 32 11.71%
2 Citi 11,855.99 25 9.45%
3 HSBC 11,229.95 19 8.95%
4 Barclays 10,953.98 19 8.73%
5 BNP Paribas 8,319.48 16 6.63%