Markets Are Inefficient, Conclude Delegates

A straw-poll of conference delegates conducted by Jessica James, director in the risk advisory group at Citigroup, suggested the myth that foreign exchange markets are efficient has been dispelled.

  • 29 Oct 2004
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A straw-poll of conference delegates conducted by Jessica James, director in the risk advisory group at Citigroup, suggested the myth that foreign exchange markets are efficient has been dispelled. James said none of the delegates she had questioned believed currency markets are efficient.

Foreign exchange is likely to be less efficient than other asset classes because the majority of trades are executed for hedging purposes rather than for direct investment, explained Thanos Papasavvas, currency strategist at Credit Suisse Asset Management in London.

  • 29 Oct 2004

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 345,198.83 1347 8.09%
2 JPMorgan 341,363.25 1469 8.00%
3 Bank of America Merrill Lynch 306,420.54 1057 7.18%
4 Barclays 256,906.26 968 6.02%
5 Goldman Sachs 227,680.37 772 5.34%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 48,038.21 201 6.58%
2 JPMorgan 46,115.73 103 6.31%
3 UniCredit 39,566.35 173 5.42%
4 Credit Agricole CIB 37,118.63 184 5.08%
5 SG Corporate & Investment Banking 36,637.33 141 5.02%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 14,111.63 62 8.97%
2 Goldman Sachs 13,469.15 66 8.56%
3 Citi 9,971.36 58 6.34%
4 Morgan Stanley 8,572.10 54 5.45%
5 UBS 8,391.04 36 5.33%