Lehman Recommends Aussie Dollar Play

  • 23 Apr 2001
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Lehman Brothers, believing that the Australian dollar has bottomed out, is recommending an fx options strategy to take advantage of Aussie upside against the mighty greenback. Ron Leven, currency strategist in Tokyo, said the Aussie dollar is forming a base around USD0.50 and has the potential to reach USD0.53 in the near future. Leven suggests buying a three-month at-the-money Aussie dollar call with a knock-out placed at USD0.49 and selling a three-month Aussie dollar call struck at USD0.53, at an approximate cost of 70 bps. On Wednesday, the Aussie stood at USD0.5027.

The three-month window was selected because in the latter part of the summer a number of Australian dollar denominated bonds mature, Leven explained.

  • 23 Apr 2001

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 241,977.38 927 8.19%
2 JPMorgan 223,817.40 997 7.58%
3 Bank of America Merrill Lynch 216,160.55 723 7.32%
4 Barclays 185,098.93 672 6.27%
5 Goldman Sachs 158,991.47 518 5.38%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 32,522.19 61 6.54%
2 BNP Paribas 32,284.10 130 6.49%
3 UniCredit 26,992.47 123 5.43%
4 SG Corporate & Investment Banking 26,569.73 97 5.34%
5 Credit Agricole CIB 23,807.36 111 4.79%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 10,167.68 46 8.81%
2 JPMorgan 9,894.90 42 8.58%
3 Citi 8,202.25 45 7.11%
4 UBS 6,098.17 23 5.29%
5 Credit Suisse 5,236.02 28 4.54%