Interest rate cut to drive investors to esoteric asset classes

With the Federal Reserve on Wednesday signalling a July interest rate cut, investors say they are planning to move further afield for opportunities, shifting more heavily into off-the-run assets to hit yield targets.

  • By Jennifer Kang
  • 10 Jul 2019

Since the Fed’s June meeting, “it appears that uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the US economic outlook,” Fed chairman Jerome Powell wrote in the semi-annual Monetary Policy Report.

The impact of uncertainties is evident in the slowdown ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 4,486 16 13.62
2 Citi 4,347 16 13.20
3 Lloyds Bank 3,158 6 9.59
4 Morgan Stanley 3,066 8 9.31
5 Bank of America Merrill Lynch (BAML) 2,771 10 8.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 59,774.40 197 10.64%
2 JPMorgan 52,017.12 155 9.26%
3 Wells Fargo Securities 42,153.78 123 7.51%
4 Bank of America Merrill Lynch 41,657.82 137 7.42%
5 Credit Suisse 38,415.30 121 6.84%