Investors hold on to Italy’s yield roller-coaster

Italy’s coalition government is taking investors on a wild ride, with different voices emanating from the populist grouping quickly shifting sentiment among the buy side. But the juicy spreads the sovereign offers over its peers has helped provide some respite from the sell-offs, said analysts.

  • By Craig McGlashan
  • 08 Aug 2018
Concerns over what Italy’s 2019 budget will look like — and particularly whether it will conform to European Union budget rules — led to a spike in two year BTP yields to around 1.28% last week, before coming down to 0.85% on Wednesday morning — about 11bp down ...

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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 44,086.83 120 12.26%
2 JPMorgan 30,360.62 90 8.44%
3 HSBC 30,286.67 79 8.42%
4 Bank of America Merrill Lynch 28,521.47 88 7.93%
5 Goldman Sachs 26,512.56 61 7.37%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 35,517.09 98 7.61%
2 HSBC 33,384.07 130 7.16%
3 UniCredit 32,836.18 95 7.04%
4 Barclays 32,583.41 65 6.99%
5 BNP Paribas 28,107.64 70 6.03%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 81,624.46 292 6.76%
2 JPMorgan 79,212.59 462 6.56%
3 HSBC 75,662.85 309 6.27%
4 Barclays 61,856.29 245 5.12%
5 Deutsche Bank 54,387.29 174 4.51%