SocGen Touts Santander, UniCredit CDS Play

Investors anticipating further compression in credit default swaps on European financial names should sell senior UniCredit CDS and buy protection on Santander CDS, according to Société Générale.

  • 08 May 2013

Investors anticipating further compression in credit default swaps on European financial names should sell senior UniCreditCDS and buy protection on Santander CDS, according to Société Générale.

“We anticipate more CDS compression,” Juan Valencia, a credit strategist at SocGen in Paris, told DI. “Factoring in Santander’s relatively uninspiring Q1 ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 189,125.64 835 8.18%
2 Citi 178,481.94 729 7.72%
3 Bank of America Merrill Lynch 148,726.70 609 6.43%
4 Barclays 141,595.74 562 6.12%
5 HSBC 118,154.11 612 5.11%

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1 BNP Paribas 17,156.20 81 7.00%
2 Credit Agricole CIB 14,626.10 73 5.97%
3 Bank of America Merrill Lynch 13,982.20 42 5.71%
4 UniCredit 11,996.19 65 4.90%
5 SG Corporate & Investment Banking 11,443.33 58 4.67%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 Morgan Stanley 6,404.49 28 10.72%
2 Goldman Sachs 5,586.94 27 9.35%
3 JPMorgan 5,185.69 33 8.68%
4 UBS 4,134.32 20 6.92%
5 Citi 4,039.74 28 6.76%