Investors seek safety in IG corps as Bund yields vanish

Investment grade corporate bonds were the only asset class ECM Asset Management gave an increased allocation in its most recent update to its model portfolio, reflecting resilience in the face of geopolitical instability and reduced growth forecasts for eurozone countries.

  • By Richard Metcalf
  • 13 Aug 2014

Co-chief investment officer and portfolio manager Ross Pamphilon said the continued strength of credit market fundamentals and low default rates were factors making high grade credit products attractive.

In contrast, bank capital, subordinated insurance and high yield markets were areas where the firm, which focuses exclusively on fixed income ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 107,057.91 536 5.93%
2 Citi 97,982.52 503 5.43%
3 Bank of America Merrill Lynch 93,417.04 477 5.18%
4 Barclays 82,746.08 357 4.59%
5 Goldman Sachs 72,129.66 351 4.00%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 23,881.98 65 8.04%
2 BNP Paribas 21,246.52 120 7.15%
3 Deutsche Bank 18,113.62 87 6.10%
4 SG Corporate & Investment Banking 17,453.03 80 5.87%
5 Bank of America Merrill Lynch 16,800.86 56 5.65%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 5,477.09 30 9.39%
2 Deutsche Bank 4,159.22 26 7.13%
3 JPMorgan 4,107.86 33 7.05%
4 Barclays 3,856.31 25 6.61%
5 Goldman Sachs 3,785.14 29 6.49%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 21,290.12 175 9.59%
2 Citi 20,439.86 159 9.20%
3 Goldman Sachs 16,517.10 127 7.44%
4 Bank of America Merrill Lynch 15,491.95 134 6.98%
5 Morgan Stanley 14,358.47 98 6.47%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 19,764.80 117 5.75%
2 Barclays 18,752.59 77 5.46%
3 Citi 17,788.18 88 5.18%
4 SG Corporate & Investment Banking 17,460.83 84 5.08%
5 JPMorgan 16,953.30 81 4.93%