CEEMEA bond market stable after big losses but more may follow

The CEEMEA bond market found some stability this week after brutal selling in the secondary market. Syndicate bankers are hoping that relative value arguments will stop the selling pressure. But outflows are still mounting and another sharp correction could be just around the corner, analysts warned.

  • By Steven Gilmore
  • 13 Jun 2013

The market remains choppy but bankers welcomed the comparative calm on Thursday after steep losses in the secondary market earlier in the week. “Tuesday was just brutal,” said one debt banker.

The iTraxx CEEMEA corporate index hit 284bp on Tuesday, its highest level since it was created last ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 4,897.24 25 6.92%
2 HSBC 4,323.95 26 6.11%
3 Citi 4,027.50 29 5.69%
4 Morgan Stanley 3,888.93 18 5.50%
5 BNP Paribas 3,721.14 15 5.26%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,322.28 8 5.49%
2 UniCredit 1,892.23 6 4.47%
3 Bank of America Merrill Lynch 1,585.30 5 3.75%
4 ING 1,477.05 5 3.49%
5 Mitsubishi UFJ Financial Group 1,455.84 5 3.44%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 327.97 2 10.84%
2 JPMorgan 315.65 2 10.43%
2 Goldman Sachs 315.65 2 10.43%
4 Citi 266.00 2 8.79%
5 Bank of America Merrill Lynch 226.61 2 7.49%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 1,186.24 9 8.93%
2 Bank of America Merrill Lynch 1,144.99 10 8.62%
3 Morgan Stanley 1,069.11 7 8.05%
4 JPMorgan 1,064.38 8 8.01%
5 Wells Fargo Securities 882.72 7 6.65%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,322.28 8 5.12%
2 UniCredit 1,892.23 6 4.17%
3 Bank of America Merrill Lynch 1,585.30 5 3.49%
4 ING 1,477.05 5 3.25%
5 Mitsubishi UFJ Financial Group 1,455.84 5 3.21%