Bank capital investors preach discipline amid new QE hype

Some bank capital investors are positioning themselves to take advantage of volatility in the remainder of 2019, revealing their concerns that the market is overly excited about the prospect of a new quantitative easing (QE) programme in Europe.

  • By Tyler Davies
  • 07 Aug 2019

Credit spreads have been racing tighter in recent months, with the iTraxx subordinated financials index having tightened by 32bp since the beginning of June.

The rally has been driven by expectations that European Central Bank president Mario Draghi will unveil a new package of stimulus measures in September, ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 10,508.92 89 5.90%
2 HSBC 10,220.20 53 5.74%
3 LBBW 8,393.04 48 4.71%
4 Natixis 7,239.94 37 4.07%
5 Barclays 7,218.44 37 4.05%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 60,603.56 279 5.88%
2 JPMorgan 58,738.70 311 5.70%
3 Citi 55,661.62 319 5.40%
4 Morgan Stanley 46,520.48 253 4.52%
5 Goldman Sachs 41,235.04 361 4.00%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 49,795.27 235 11.30%
2 JPMorgan 47,158.34 241 10.70%
3 Citi 43,890.39 248 9.96%
4 Morgan Stanley 35,695.37 177 8.10%
5 Goldman Sachs 31,421.70 306 7.13%

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 6.68%
2 LBBW 5,403.66 21 6.08%
3 UniCredit 5,308.44 25 5.97%
4 Credit Agricole CIB 5,190.96 23 5.84%
5 HSBC 5,076.13 19 5.71%

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 6,245.72 16 13.46%
2 UBS 4,356.06 22 9.39%
3 BNP Paribas 3,955.22 18 8.52%
4 Credit Agricole CIB 3,549.81 11 7.65%
5 Credit Suisse 2,989.22 12 6.44%