FIG investors show greater caution as trade war rages

Investors in bank bonds were taking profits this week and heading for cover, hoping for better markets before they participate in new deals following the escalation of trade antagonism between the US and China.

  • By David Freitas
  • 15 May 2019

“Tensions around trade negotiations between US and China have an impact on risk premiums,” said one bond investor after credit indices widened. The Markit iTraxx Europe Senior Financials Index widened from 70bp at the start of the month to 83bp on Wednesday.

As the trade discussions between ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 10,283.03 88 6.01%
2 HSBC 9,924.14 51 5.80%
3 LBBW 8,393.04 48 4.91%
4 Natixis 7,239.94 37 4.23%
5 UBS 7,025.55 38 4.11%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 55,206.99 242 6.06%
2 JPMorgan 52,753.76 271 5.79%
3 Citi 52,120.64 279 5.72%
4 Morgan Stanley 41,067.38 223 4.51%
5 HSBC 36,375.06 225 3.99%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 45,511.73 199 11.65%
2 JPMorgan 41,640.01 205 10.65%
3 Citi 40,920.97 214 10.47%
4 Morgan Stanley 30,035.65 150 7.69%
5 Goldman Sachs 27,561.22 260 7.05%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,939.43 23 6.77%
2 LBBW 5,403.66 21 6.16%
3 UniCredit 5,082.55 24 5.79%
4 HSBC 5,076.13 19 5.78%
5 Credit Agricole CIB 4,965.07 22 5.66%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 6,170.54 15 14.33%
2 UBS 4,233.38 20 9.83%
3 BNP Paribas 3,846.71 16 8.93%
4 Credit Agricole CIB 3,549.81 11 8.24%
5 HSBC 2,321.22 16 5.39%