Bankers fear 10 year tranche is losing its lustre as US Treasuries soar

Asian bankers are thinking twice about pricing US dollar bonds beyond five years now that yields on 10 year Treasuries are creeping back up from their lowest levels since at least 2000, writes Frances Yoon.

  • 17 May 2013
Yields on the 10 year were at 1.66% on May 1, but have spiked nearly 30bp since then because of speculation that the Federal Reserve might begin unwinding its multi-billion dollar bond buying programme. This, with stronger growth prospects and a burgeoning stock market has pushed yields higher ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 99,162.79 451 5.86%
2 Bank of America Merrill Lynch 98,747.53 434 5.84%
3 Citi 83,515.01 439 4.94%
4 Barclays 72,887.24 287 4.31%
5 Goldman Sachs 67,458.35 264 3.99%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 21,922.23 100 8.77%
2 Deutsche Bank 18,365.60 68 7.35%
3 SG Corporate & Investment Banking 17,313.06 81 6.93%
4 UniCredit 14,560.49 67 5.82%
5 HSBC 12,711.09 71 5.08%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 BNP Paribas 4,199.27 50 7.07%
2 Deutsche Bank 3,839.34 38 6.46%
3 Goldman Sachs 3,725.55 31 6.27%
4 JPMorgan 3,599.75 39 6.06%
5 Credit Suisse 3,406.43 36 5.73%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 17,476.08 137 9.98%
2 Credit Suisse 12,881.03 89 7.35%
3 Goldman Sachs 12,373.76 90 7.06%
4 Citi 12,061.47 102 6.88%
5 Bank of America Merrill Lynch 11,966.50 108 6.83%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 24,095.98 100 6.17%
2 BNP Paribas 22,554.34 96 5.78%
3 Barclays 22,506.00 76 5.76%
4 Citi 21,179.37 84 5.42%
5 Deutsche Bank 21,068.78 84 5.40%