Job done? ECB buying soothes but market picks bail-out holes

European Central Bank purchases of government bonds — as much as Eu25bn, said some sovereign DCM specialists — and liquidity support for the region’s banks settled nerves and yields in equal measure this week. But questions over the long term operation of the Eu750bn offered by the European Union and International Monetary Fund stabilisation package went unanswered, potentially opening the door for renewed bouts of volatility.

  • 14 May 2010
Still, the sheer scale of the bail-out package announced at 3am on Monday delivered its framers’ intentions. Bond markets stabilised, auctions from peripheral sovereigns went well and, although there was little in the way of new issuance this week, bankers expect that, with a few more days of ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,503.69 19 12.05%
2 Citi 11,025.37 16 9.84%
3 HSBC 10,438.07 12 9.31%
4 BNP Paribas 8,371.12 12 7.47%
5 Barclays 7,970.77 10 7.11%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 19,258.86 44 11.87%
2 JPMorgan 17,028.13 38 10.49%
3 Barclays 12,294.11 26 7.58%
4 Deutsche Bank 10,542.52 22 6.50%
5 HSBC 10,251.20 23 6.32%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 26,458.47 51 10.07%
2 HSBC 19,545.39 55 7.44%
3 Credit Agricole CIB 18,751.24 38 7.14%
4 BNP Paribas 18,161.36 34 6.91%
5 Barclays 17,311.25 36 6.59%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 47,449.43 200 7.97%
2 HSBC 39,313.57 137 6.61%
3 Citi 38,524.37 111 6.47%
4 Barclays 35,828.56 113 6.02%
5 Deutsche Bank 28,791.52 81 4.84%