North Korean Uproar Fails To Dent CDS

North Korea's missile launch was the talk of the region's markets last week and jittered equities but the uproar had limited effect on Asian credit-default swaps.

  • 07 Jul 2006
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North Korea's missile launch was the talk of the region's markets last week and jittered equities but the uproar had limited effect on Asian credit-default swaps. "This blew over in about 15 minutes," said a senior trader at a European house without irony. He explained Korea sovereign protection moved out about two basis points mid-week after the news but tightened back in within an hour or so. Five-year protection was trading around a 28 basis point mid-market as DW went to press Thursday.

"This was written off--we've seen this story before," explained the trader. An official at UBS added there was more volatility a month ago in Korean names when the story first broke. "People that were scared pulled out then," he noted.

  • 07 Jul 2006

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 255,554.16 1146 8.47%
2 Citi 232,791.64 969 7.71%
3 Bank of America Merrill Lynch 199,027.99 814 6.59%
4 Barclays 184,008.42 751 6.10%
5 HSBC 144,676.82 801 4.79%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 31,283.69 132 7.81%
2 Credit Agricole CIB 27,347.56 115 6.83%
3 JPMorgan 23,350.32 62 5.83%
4 Bank of America Merrill Lynch 22,698.09 61 5.67%
5 UniCredit 19,891.92 110 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 8,160.55 49 10.10%
2 Morgan Stanley 7,744.92 38 9.59%
3 Goldman Sachs 6,966.15 37 8.62%
4 Citi 5,856.44 44 7.25%
5 UBS 4,820.17 25 5.97%