Opinion: Asian local bonds have had a stellar start — but what next?

It has been a barnstorming start to the year for Asia’s local currency bond markets. But the risk of foreign investors dumping their holdings puts the performance of Asian local markets into doubt for the rest of the year.

  • 02 May 2012

Banks and companies have already sold $195.8bn of local currency bonds in Asia ex-Japan so far this year, according to data from Dealogic (excluding auctions, money market transactions, and some other deals). That is a 44.28% jump from the $135.7bn sold over the same period last year.

This expansion ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 7,804.66 23 9.52%
2 Deutsche Bank 6,018.47 14 7.34%
3 JPMorgan 5,096.36 17 6.22%
4 Barclays 4,950.16 12 6.04%
5 Goldman Sachs 4,862.50 14 5.93%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 1,243.79 7 7.24%
2 BNP Paribas 1,118.03 6 6.51%
3 Barclays 1,100.14 4 6.41%
4 Commerzbank Group 1,054.99 6 6.15%
5 JPMorgan 1,009.92 4 5.88%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 200.50 2 12.59%
1 Deutsche Bank 200.50 2 12.59%
3 UniCredit 113.00 1 7.09%
3 Sumitomo Mitsui Financial Group 113.00 1 7.09%
3 Mediobanca 113.00 1 7.09%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 133.33 2 7.62%
2 Wells Fargo Securities 83.33 1 4.76%
2 US Bancorp 83.33 1 4.76%
2 TD Securities Inc 83.33 1 4.76%
2 Sumitomo Mitsui Financial Group 83.33 1 4.76%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 2,636.08 6 8.44%
2 Barclays 2,499.67 4 8.00%
3 Bank of America Merrill Lynch 2,343.15 5 7.50%
4 JPMorgan 2,303.98 3 7.37%
5 MUFG 2,123.57 3 6.80%