Post on 26-Jan-2021
transcript
GLOBAL FIXEDINCOMELEAGUE TABLESFY 2018 PreliminaryAs of 21 December 2018
CONTENTS
1. Global market review2. US market review3. Canada market review4. Latin America market review5. EMEA market review6. Asia market review7. Table criteria
DATA SUBMISSIONS AND QUERIES
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North America
EMEA
Asia-Pacific
Contact EmailPhone
MANAGER RANKINGS
GLOBAL FIXED INCOME
FY 2018 PRELIMINARY AS OF 21 DECEMBER 2018
© 2018 Bloomberg Finance L.P. All rights reserved.
Robert Dienst +1 609 279 3691 newissues@bloomberg.net
Dimitris Gogos +44 20 3525 8149 emeacapmkts@bloomberg.net
Jennifer Passos +65 6231 3677 nimap@bloomberg.net
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page1
GlobalFixedIncomeReviewFY2018creditedCorporate&FinancialBondsvolumedecreased6.66%toUSD4.1Trlnwhiledealcountdecreased6.29%to15,991offeringsyear-on-year.CorporateBondsvolumedecreased11.70%year-on-yeartoUSD1.9Trlnwhilethedealcountdecreased10.25%to6,620.FinancialBondsvolumedecreased1.81%year-on-yeartoUSD2.2Trlnover9,207deals.JPMorganrankedasthetopCorporate&FinancialBondsunderwriterforFY2018with5.08%marketshare.Thebankunderwrote1,350dealsovertheperiod.BankofAmericaMerrillLynchandCitirankedsecondandthirdwith4.69%and4.39%marketshare,respectively.
Corporate&FinancialBonds:HighlightsofFY2018
Corporate&FinancialBonds:QuarterlyVolume
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DealCount Other HighYield
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TopUnderwriterJPMorgan
Numberofdeals 1,350
Volume(USDMln) 210,024
AvgDealsize(USDMln) 155.6
MarketSummaryNumberofdeals 15,991
Volume(USDMln) 4,131,858
AvgDealsize(USDMln) 258.4
Issuer Industry Volume(USDMln) Date
CVSHealthCorp HealthCare 9,000 03/06/2018
CVSHealthCorp HealthCare 8,000 03/06/2018
AgriculturalBankofChinaLtd Financials 6,312 04/27/2018
ChinaConstructionBankCorp Financials 6,257 09/25/2018
CVSHealthCorp HealthCare 6,000 03/06/2018
BankofChinaLtd Financials 5,851 09/05/2018
BankofChinaLtd Financials 5,806 10/11/2018
ChinaMinshengBankingCorpLtd Financials 5,770 11/22/2018
ChinaConstructionBankCorp Financials 5,746 10/29/2018
PingAnBankCoLtd Financials 5,076 12/18/2018
Financials54%
Industrials9%
ConsumerDiscretionary8%
Utilities6%
Others23%
GlobalCorporateLeveragedFinance:QuarterlyVolume
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CorporateHighYieldBonds
GlobalSponsor-LedLoans
Corporate&FinancialBonds:IndustryBreakdown
Corporate&FinancialBonds:SpreadtoBenchmark
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Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page2
CorporateBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
JPMorgan 1 5.973 115,130 837 1 7.402 -1.429
BankofAmericaMerrillLynch 2 5.951 114,718 795 2 6.605 -0.654
Citi 3 5.002 96,424 757 3 5.905 -0.903
Barclays 4 4.290 82,695 583 5 4.617 -0.327
GoldmanSachs 5 3.881 74,819 491 4 4.744 -0.863
MorganStanley 6 3.598 69,357 655 6 4.511 -0.913
HSBC 7 3.336 64,312 523 8 3.316 0.020
MizuhoFinancial 8 3.208 61,830 641 12 2.875 0.333
BNPParibas 9 3.163 60,975 484 10 2.982 0.181
DeutscheBank 10 3.148 60,676 449 7 4.429 -1.281
WellsFargo 11 2.980 57,441 383 11 2.928 0.052
MitsubishiUFJFinancialGroupInc 12 2.522 48,610 400 13 2.283 0.239
CreditSuisse 13 2.507 48,324 418 9 3.014 -0.507
RBCCapitalMarkets 14 2.397 46,205 378 14 2.241 0.156
SumitomoMitsuiFinancial 15 2.240 43,179 460 17 1.352 0.888
SocieteGenerale 16 1.772 34,165 268 15 1.744 0.028
CreditAgricoleCIB 17 1.395 26,891 238 18 1.277 0.118
BankofChina 18 1.262 24,327 220 29 0.721 0.541
ChinaSecurities 19 1.176 22,671 261 27 0.745 0.431
ChinaConstructionBank 20 1.174 22,626 225 25 0.797 0.377
TOTAL 100% 1,927,655 6,620 100%
FinancialBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
HSBC 1 4.596 99,990 648 6 4.080 0.516
JPMorgan 2 4.362 94,894 513 3 4.559 -0.197
Citi 3 3.856 83,885 553 2 4.981 -1.125
MorganStanley 4 3.737 81,313 565 1 5.188 -1.451
GoldmanSachs 5 3.690 80,286 431 4 4.526 -0.836
BankofAmericaMerrillLynch 6 3.626 78,900 401 5 4.155 -0.529
DeutscheBank 7 3.092 67,268 388 9 2.614 0.478
Barclays 8 2.777 60,426 345 8 2.997 -0.220
UBS 9 2.537 55,199 369 7 3.158 -0.621
BNPParibas 10 2.404 52,298 315 11 2.080 0.324
CreditSuisse 11 2.209 48,066 341 10 2.275 -0.066
CreditAgricoleCIB 12 1.861 40,486 320 13 1.825 0.036
WellsFargo 13 1.756 38,202 210 12 1.981 -0.225
BankofChina 14 1.671 36,363 261 18 1.154 0.517
RBCCapitalMarkets 15 1.588 34,547 228 14 1.551 0.037
CITICSecurities 16 1.578 34,337 184 15 1.522 0.056
SocieteGenerale 17 1.458 31,731 202 20 1.120 0.338
LandesbankHessen-ThuringenGirozentrale 18 1.383 30,085 258 16 1.264 0.119
ChinaSecurities 19 1.352 29,406 194 23 0.921 0.431
Industrial&CommBankofChina 20 1.311 28,516 216 17 1.199 0.112
TOTAL 100% 2,175,689 9,207 100%
SyndicatedGovernmentBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
Citi 1 6.898 94,077 445 1 7.862 -0.964
JPMorgan 2 6.474 88,291 567 2 6.893 -0.419
HSBC 3 6.289 85,768 481 3 6.271 0.018
Barclays 4 6.155 83,940 341 4 6.018 0.137
TDSecurities 5 4.743 64,681 455 8 4.223 0.520
DeutscheBank 6 4.585 62,534 335 6 4.638 -0.053
BankofAmericaMerrillLynch 7 4.140 56,463 282 5 4.829 -0.689
GoldmanSachs 8 3.753 51,188 208 7 4.307 -0.554
Nomura 9 3.672 50,077 470 10 3.545 0.127
RBCCapitalMarkets 10 3.150 42,967 250 11 2.430 0.720
BNPParibas 11 2.818 38,430 193 9 3.962 -1.144
MorganStanley 12 2.732 37,259 639 12 2.351 0.381
CreditAgricoleCIB 13 2.393 32,635 242 15 1.994 0.399
SocieteGenerale 14 2.208 30,110 118 14 2.217 -0.009
NatWestMarkets 15 2.164 29,520 155 20 1.370 0.794
UniCredit 16 2.038 27,793 107 13 2.241 -0.203
BMOCapitalMarkets 17 1.722 23,481 102 17 1.578 0.144
WellsFargo 18 1.691 23,062 464 16 1.659 0.032
Commerzbank 19 1.650 22,504 84 21 1.338 0.312
NationalBankFinancialInc 20 1.459 19,898 153 22 1.302 0.157
TOTAL 100% 1,363,821 6,355 100%
InternationalBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
JPMorgan 1 7.266 262,857 1,619 1 8.013 -0.747
HSBC 2 6.289 227,517 1,385 4 5.693 0.596
Citi 3 6.189 223,872 1,408 2 7.121 -0.932
BankofAmericaMerrillLynch 4 5.743 207,750 1,207 3 6.447 -0.704
Barclays 5 5.449 197,133 1,077 5 5.647 -0.198
GoldmanSachs 6 4.823 174,466 886 6 5.624 -0.801
DeutscheBank 7 4.656 168,430 954 7 4.901 -0.245
BNPParibas 8 4.081 147,628 954 9 4.004 0.077
MorganStanley 9 3.653 132,147 831 8 4.150 -0.497
CreditAgricoleCIB 10 2.688 97,243 785 11 2.337 0.351
SocieteGenerale 11 2.563 92,729 577 12 2.277 0.286
RBCCapitalMarkets 12 2.374 85,884 525 16 1.849 0.525
CreditSuisse 13 2.335 84,464 644 10 2.525 -0.190
WellsFargo 14 2.033 73,538 471 13 1.947 0.086
UniCredit 15 1.825 66,028 400 15 1.861 -0.036
MizuhoFinancial 16 1.810 65,487 692 17 1.557 0.253
TDSecurities 17 1.806 65,315 417 18 1.504 0.302
NatWestMarkets 18 1.730 62,600 316 22 1.338 0.392
UBS 19 1.586 57,357 377 14 1.862 -0.276
MitsubishiUFJFinancialGroupInc 20 1.551 56,092 480 20 1.445 0.106
TOTAL 100% 3,617,507 9,896 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page3
GlobalBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
JPMorgan 1 10.760 105,773 479 1 11.722 -0.962
BankofAmericaMerrillLynch 2 10.257 100,830 504 2 10.243 0.014
Citi 3 9.026 88,731 440 3 9.966 -0.940
Barclays 4 7.868 77,346 316 6 6.324 1.544
GoldmanSachs 5 7.527 73,991 307 4 8.642 -1.115
HSBC 6 6.396 62,876 183 9 4.101 2.295
MorganStanley 7 5.896 57,960 292 5 6.818 -0.922
WellsFargo 8 4.849 47,664 270 8 4.387 0.462
DeutscheBank 9 4.039 39,706 188 7 4.674 -0.635
RBCCapitalMarkets 10 4.034 39,657 189 11 3.079 0.955
TDSecurities 11 3.720 36,573 150 10 3.632 0.088
MizuhoFinancial 12 2.669 26,237 189 15 2.111 0.558
CreditSuisse 13 2.224 21,867 157 13 2.188 0.036
MitsubishiUFJFinancialGroupInc 14 2.093 20,575 169 12 2.240 -0.147
BNPParibas 15 1.795 17,641 122 14 2.147 -0.352
Nomura 16 1.632 16,042 34 16 1.992 -0.360
SumitomoMitsuiFinancial 17 1.444 14,199 97 27 0.602 0.842
Scotiabank 18 1.398 13,747 73 19 1.126 0.272
BMOCapitalMarkets 19 1.286 12,641 46 17 1.349 -0.063
USBancorp 20 1.094 10,758 111 18 1.203 -0.109
TOTAL 100% 983,041 1,155 100%
CorporateHighYieldBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
CreditSuisse 1 6.070 23,580 202 5 5.828 0.242
JPMorgan 2 6.052 23,508 225 1 8.172 -2.120
GoldmanSachs 3 5.256 20,418 177 2 6.566 -1.310
Barclays 4 5.235 20,333 165 6 5.700 -0.465
BankofAmericaMerrillLynch 5 4.780 18,566 195 3 6.334 -1.554
DeutscheBank 6 4.734 18,389 191 8 4.739 -0.005
MorganStanley 7 4.669 18,135 178 4 5.979 -1.310
Citi 8 4.506 17,502 163 7 5.470 -0.964
WellsFargo 9 3.784 14,699 118 9 3.326 0.458
HSBC 10 2.768 10,753 143 10 2.825 -0.057
BNPParibas 11 2.536 9,850 118 12 2.044 0.492
RBCCapitalMarkets 12 2.525 9,807 102 11 2.544 -0.019
UBS 13 1.772 6,882 93 13 1.949 -0.177
BankofChina 14 1.537 5,970 45 30 0.659 0.878
MizuhoFinancial 15 1.354 5,260 62 19 0.997 0.357
CreditAgricoleCIB 16 1.353 5,256 62 15 1.445 -0.092
HaitongSecurities 17 1.335 5,184 99 20 0.995 0.340
SocieteGenerale 18 1.295 5,030 63 16 1.326 -0.031
Jefferies 19 1.254 4,869 36 14 1.833 -0.579
GuotaiJunanSecurities 20 1.190 4,621 81 29 0.702 0.488
TOTAL 100% 388,430 1,110 100%
GlobalGreenBonds-Corporate&GovernmentFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
CreditAgricoleCIB 1 6.470 8,613 52 1 6.897 -0.427
HSBC 2 5.918 7,878 56 2 6.404 -0.486
BNPParibas 3 5.393 7,180 47 3 4.901 0.492
BankofAmericaMerrillLynch 4 5.267 7,012 39 5 4.327 0.940
SEB 5 3.699 4,924 49 9 3.533 0.166
JPMorgan 6 3.571 4,755 29 4 4.790 -1.219
Citi 7 3.491 4,647 32 7 3.749 -0.258
SocieteGenerale 8 3.225 4,293 22 6 3.780 -0.555
Barclays 9 2.810 3,741 22 8 3.719 -0.909
INGGroep 10 2.776 3,695 19 30 0.981 1.795
Natixis 11 2.214 2,947 18 10 2.874 -0.660
GuotaiJunanSecurities 12 2.062 2,745 17 26 1.195 0.867
RBCCapitalMarkets 13 1.948 2,593 18 21 1.519 0.429
BankofChina 14 1.773 2,361 18 32 0.942 0.831
UniCredit 15 1.656 2,205 13 25 1.278 0.378
TDSecurities 16 1.651 2,198 19 18 1.645 0.006
DeutscheBank 17 1.645 2,189 16 16 1.901 -0.256
Industrial&CommBankofChina 18 1.613 2,147 21 13 2.131 -0.518
DanskeBank 19 1.578 2,100 22 37 0.675 0.903
AgriculturalBankofChina 20 1.519 2,022 18 23 1.380 0.139
TOTAL 100% 133,124 450 100%
GlobalSukukFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
CIMB 1 10.495 4,555 112 2 11.158 -0.663
HSBC 2 9.502 4,124 35 3 8.926 0.576
Maybank 3 9.067 3,935 145 1 12.627 -3.560
RHB 4 7.562 3,282 135 8 4.476 3.086
StandardCharteredBank 5 7.462 3,239 31 4 5.431 2.031
AmInvestmentBankBhd 6 7.030 3,051 109 5 5.003 2.027
Citi 7 5.546 2,407 15 7 4.571 0.975
DubaiIslamicBank 8 4.118 1,787 15 12 3.263 0.855
JPMorgan 9 3.303 1,434 10 6 4.961 -1.658
AffinHwangCapital 10 2.545 1,105 50 16 1.490 1.055
BNPParibas 11 2.516 1,092 5 13 3.203 -0.687
FirstAbuDhabiBankPJSC 12 2.457 1,066 12 11 3.377 -0.920
AbuDhabiIslamicBank 13 2.399 1,041 8 - - 2.399
EmiratesNBDPJSC 14 2.187 949 13 14 2.645 -0.458
GulfInternationalBankBSC 15 1.886 819 4 15 2.237 -0.351
Natixis 16 1.734 752 5 26 0.718 1.016
KenangaInvestmentBankBhd 17 1.659 720 40 25 0.736 0.923
SharjahIslamicBank 18 1.356 588 5 37 0.332 1.024
KuwaitFinanceHouse 19 1.350 586 7 24 0.758 0.592
MizuhoFinancial 20 1.344 583 3 55 0.104 1.240
TOTAL 100% 43,401 415 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page4
InternationalSukukFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
HSBC 1 13.544 3,394 20 1 14.119 -0.575
StandardCharteredBank 2 12.667 3,174 29 2 9.816 2.851
Citi 3 9.605 2,407 15 4 8.397 1.208
DubaiIslamicBank 4 7.132 1,787 15 7 5.994 1.138
JPMorgan 5 5.721 1,434 10 3 9.113 -3.392
CIMB 6 5.055 1,267 6 21 0.858 4.197
FirstAbuDhabiBankPJSC 7 4.255 1,066 12 6 6.203 -1.948
AbuDhabiIslamicBank 8 4.155 1,041 8 - - 4.155
EmiratesNBDPJSC 9 3.788 949 13 10 4.858 -1.070
GulfInternationalBankBSC 10 3.267 819 4 11 2.638 0.629
BNPParibas 11 3.116 781 4 8 5.734 -2.618
Natixis 12 3.003 752 5 15 1.318 1.685
SharjahIslamicBank 13 2.348 588 5 23 0.610 1.738
MizuhoFinancial 14 2.328 583 3 35 0.191 2.137
KuwaitFinanceHouse 15 2.215 555 3 16 1.157 1.058
LandesbankBaden-Wuerttemberg 16 1.781 446 3 - - 1.781
SumitomoMitsuiFinancial 17 1.621 406 3 35 0.191 1.430
NoorBank 18 1.347 337 6 13 1.815 -0.468
SambaCapital 19 1.330 333 1 - - 1.330
BedfordRowCapitalAdvisersLtd 20 1.260 316 2 - - 1.260
TOTAL 100% 25,058 43 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page5
USFixedIncomeReviewFY2018creditedUSCorporateBondsvolumedecreased19.13%toUSD1.4Trlnwhiledealcountdecreased19.42%to2,436offeringsyear-on-year.USInvestmentGradeCorporateBondsvolumedecreased12.84%year-on-yeartoUSD1.2Trlnwhilethedealcountdecreased15.56%to1,878.USHighYieldCorporateBondsvolumedecreased42.28%year-on-yeartoUSD180.9Blnover389deals.JPMorganrankedasthetopUSCorporateBondsunderwriterforFY2018with11.16%marketshare.Thebankunderwrote948dealsovertheperiod.BankofAmericaMerrillLynchandCitirankedsecondandthirdwith10.79%and9.24%marketshare,respectively.
USCorporateBonds:HighlightsofFY2018
USDomesticBonds:QuarterlyVolume
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TopUnderwriterJPMorgan
Numberofdeals 948
Volume(USDMln) 159,852
AvgDealsize(USDMln) 168.6
MarketSummaryNumberofdeals 2,436
Volume(USDMln) 1,431,847
AvgDealsize(USDMln) 587.8
Issuer Industry Volume(USDMln) Date
CVSHealthCorp HealthCare 9,000 03/06/2018
CVSHealthCorp HealthCare 8,000 03/06/2018
CVSHealthCorp HealthCare 6,000 03/06/2018
CVSHealthCorp HealthCare 5,000 03/06/2018
CVSHealthCorp HealthCare 5,000 03/06/2018
ComcastCorp Communications 4,000 10/02/2018
ComcastCorp Communications 4,000 10/02/2018
HalfmoonParentInc HealthCare 3,800 09/06/2018
AT&TInc Communications 3,750 08/16/2018
GoldmanSachsGroupInc/The Financials 3,500 04/18/2018
Financials39%
HealthCare10%
Energy9%
ConsumerDiscretionary8%
Communications7%
ConsumerStaples7%
Utilities6%
Industrials6%
Others7%
USLeveragedFinance:QuarterlyVolume
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USCorporateBonds:IndustryBreakdown
USDomesticBonds:SpreadtoBenchmark
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10%9%
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Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page6
USDomesticBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
JPMorgan 1 10.120 194,539 1,112 1 11.077 -0.957
Citi 2 9.688 186,244 1,052 2 10.488 -0.800
BankofAmericaMerrillLynch 3 9.465 181,964 1,048 3 9.259 0.206
GoldmanSachs 4 6.973 134,045 745 4 7.662 -0.689
Barclays 5 6.914 132,922 688 6 5.693 1.221
MorganStanley 6 6.269 120,518 1,130 5 6.565 -0.296
WellsFargo 7 5.996 115,262 1,015 7 5.347 0.649
HSBC 8 5.029 96,671 512 9 4.187 0.842
DeutscheBank 9 3.781 72,688 477 8 4.318 -0.537
RBCCapitalMarkets 10 3.162 60,789 412 11 2.745 0.417
CreditSuisse 11 2.924 56,221 373 10 2.854 0.070
TDSecurities 12 2.784 53,523 370 14 2.223 0.561
MizuhoFinancial 13 2.565 49,319 495 12 2.270 0.295
BNPParibas 14 2.332 44,835 282 13 2.259 0.073
MitsubishiUFJFinancialGroupInc 15 2.257 43,382 345 16 1.893 0.364
Nomura 16 1.599 30,739 239 17 1.675 -0.076
SumitomoMitsuiFinancial 17 1.483 28,505 199 27 0.654 0.829
UBS 18 1.092 21,001 163 15 2.060 -0.968
USBancorp 19 1.035 19,901 190 18 1.015 0.020
StandardCharteredBank 20 0.920 17,680 85 28 0.563 0.357
TOTAL 100% 1,922,398 5,012 100%
USAgencyBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
WellsFargo 1 10.917 26,607 641 2 9.634 1.283
Barclays 2 10.391 25,324 95 1 9.750 0.641
Nomura 3 9.116 22,217 244 4 9.119 -0.003
TDSecurities 4 7.387 18,004 184 5 6.705 0.682
Citi 5 7.339 17,886 170 3 9.206 -1.867
JPMorgan 6 5.660 13,795 225 6 5.580 0.080
HSBC 7 4.298 10,475 127 8 3.658 0.640
FTNFinancial 8 3.722 9,070 418 13 2.701 1.021
Jefferies 9 3.526 8,592 202 7 4.074 -0.548
MorganStanley 10 3.341 8,143 559 9 3.546 -0.205
DaiwaSecurities 11 3.259 7,942 207 10 3.051 0.208
INTLFCStoneInc 12 2.743 6,684 319 14 2.609 0.134
MizuhoFinancial 13 2.595 6,324 212 11 2.913 -0.318
DeutscheBank 14 2.385 5,813 118 20 1.466 0.919
Incapital 15 2.155 5,251 408 15 2.588 -0.433
BankofAmericaMerrillLynch 16 2.085 5,081 98 12 2.839 -0.754
LoopCapitalMarketsLLC 17 1.807 4,405 103 19 1.678 0.129
BankofNewYorkMellon 18 1.621 3,951 198 16 2.503 -0.882
Stifel 19 1.593 3,883 275 18 1.784 -0.191
RaymondJames&Associates 20 1.489 3,630 262 24 1.026 0.463
TOTAL 100% 243,712 3,893 100%
USCorporateBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
JPMorgan 1 11.164 159,852 948 1 11.573 -0.409
BankofAmericaMerrillLynch 2 10.788 154,465 916 2 10.374 0.414
Citi 3 9.237 132,260 827 3 9.900 -0.663
GoldmanSachs 4 7.561 108,257 624 4 8.593 -1.032
MorganStanley 5 7.070 101,236 636 5 7.822 -0.752
WellsFargo 6 6.441 92,225 552 6 5.720 0.721
Barclays 7 6.419 91,908 573 7 5.232 1.187
HSBC 8 4.263 61,044 323 10 3.273 0.990
CreditSuisse 9 3.705 53,051 365 9 3.693 0.012
RBCCapitalMarkets 10 3.247 46,486 364 11 3.068 0.179
DeutscheBank 11 3.180 45,531 332 8 4.098 -0.918
MitsubishiUFJFinancialGroupInc 12 2.913 41,710 338 14 2.333 0.580
MizuhoFinancial 13 2.905 41,597 332 13 2.363 0.542
BNPParibas 14 2.549 36,494 256 15 1.978 0.571
SumitomoMitsuiFinancial 15 1.894 27,122 195 19 0.874 1.020
UBS 16 1.417 20,286 157 12 2.660 -1.243
USBancorp 17 1.390 19,901 190 16 1.357 0.033
TDSecurities 18 1.385 19,826 182 17 1.081 0.304
CreditAgricoleCIB 19 1.033 14,797 124 20 0.872 0.161
SocieteGenerale 20 0.887 12,701 113 22 0.838 0.049
TOTAL 100% 1,431,846 2,436 100%
USDollarForeignIssuerBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
Citi 1 9.293 105,975 588 1 9.264 0.029
HSBC 2 7.903 90,120 499 3 7.544 0.359
JPMorgan 3 7.432 84,753 460 2 8.842 -1.410
BankofAmericaMerrillLynch 4 6.576 74,989 408 4 6.591 -0.015
GoldmanSachs 5 6.019 68,636 338 5 5.396 0.623
Barclays 6 5.467 62,342 289 8 4.217 1.250
MorganStanley 7 4.772 54,417 340 7 4.472 0.300
DeutscheBank 8 4.349 49,593 241 6 4.887 -0.538
BNPParibas 9 3.310 37,750 241 9 3.397 -0.087
StandardCharteredBank 10 2.876 32,802 273 12 2.319 0.557
RBCCapitalMarkets 11 2.676 30,519 129 14 2.164 0.512
CreditSuisse 12 2.606 29,714 185 11 2.584 0.022
TDSecurities 13 2.583 29,458 112 13 2.282 0.301
MizuhoFinancial 14 1.859 21,205 218 17 1.435 0.424
CreditAgricoleCIB 15 1.809 20,629 196 16 1.460 0.349
UBS 16 1.771 20,192 166 10 2.931 -1.160
Nomura 17 1.540 17,567 89 15 1.592 -0.052
MitsubishiUFJFinancialGroupInc 18 1.385 15,791 122 20 1.298 0.087
SumitomoMitsuiFinancial 19 1.376 15,686 100 29 0.642 0.734
BMOCapitalMarkets 20 1.249 14,243 71 18 1.394 -0.145
TOTAL 100% 1,140,394 2,541 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page7
USInvestmentGradeCorporateBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
JPMorgan 1 11.499 141,365 782 1 11.891 -0.392
BankofAmericaMerrillLynch 2 11.493 141,293 776 2 10.812 0.681
Citi 3 9.616 118,216 702 3 10.386 -0.770
GoldmanSachs 4 7.688 94,511 514 4 8.952 -1.264
MorganStanley 5 7.267 89,338 512 5 8.084 -0.817
WellsFargo 6 6.403 78,716 443 6 5.853 0.550
Barclays 7 6.296 77,402 469 7 4.962 1.334
HSBC 8 4.643 57,081 278 9 3.570 1.073
MizuhoFinancial 9 3.178 39,069 305 13 2.759 0.419
MitsubishiUFJFinancialGroupInc 10 3.157 38,810 301 14 2.621 0.536
RBCCapitalMarkets 11 3.099 38,094 280 11 2.868 0.231
CreditSuisse 12 3.018 37,102 255 10 3.120 -0.102
DeutscheBank 13 2.888 35,506 244 8 4.136 -1.248
BNPParibas 14 2.663 32,737 218 15 2.187 0.476
SumitomoMitsuiFinancial 15 2.079 25,554 175 18 0.980 1.099
USBancorp 16 1.575 19,360 180 16 1.558 0.017
TDSecurities 17 1.496 18,395 160 17 1.198 0.298
UBS 18 1.428 17,554 119 12 2.866 -1.438
CreditAgricoleCIB 19 0.976 11,999 95 21 0.833 0.143
Scotiabank 20 0.802 9,858 107 22 0.733 0.069
TOTAL 100% 1,229,395 1,878 100%
USHighYieldCorporateBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
JPMorgan 1 9.356 16,924 149 1 10.608 -1.252
CreditSuisse 2 8.835 15,980 109 7 6.419 2.416
Barclays 3 8.139 14,723 108 5 7.236 0.903
WellsFargo 4 7.592 13,732 108 8 5.865 1.727
GoldmanSachs 5 7.352 13,299 107 3 8.062 -0.710
BankofAmericaMerrillLynch 6 7.104 12,849 133 2 9.160 -2.056
Citi 7 6.206 11,226 99 4 7.581 -1.375
MorganStanley 8 6.052 10,947 106 6 6.651 -0.599
DeutscheBank 9 5.319 9,621 87 9 4.482 0.837
RBCCapitalMarkets 10 4.652 8,414 83 10 4.199 0.453
Jefferies 11 2.247 4,065 26 11 2.994 -0.747
BMOCapitalMarkets 12 1.655 2,994 30 12 1.753 -0.098
SunTrustRobinsonHumphrey 13 1.603 2,900 31 13 1.670 -0.067
MitsubishiUFJFinancialGroupInc 14 1.601 2,896 37 16 1.357 0.244
HSBC 15 1.575 2,848 36 15 1.618 -0.043
SocieteGenerale 16 1.528 2,764 29 20 0.847 0.681
BNPParibas 17 1.421 2,571 30 17 1.198 0.223
CreditAgricoleCIB 18 1.302 2,356 27 19 1.036 0.266
UBS 19 1.245 2,251 25 14 1.634 -0.389
MizuhoFinancial 20 1.176 2,127 25 21 0.843 0.333
TOTAL 100% 180,882 389 100%
USDollarPreferredsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
BankofAmericaMerrillLynch 1 26.801 4,950 36 3 13.809 12.992
MorganStanley 2 16.334 3,017 48 1 21.572 -5.238
WellsFargo 3 15.399 2,844 37 2 14.692 0.707
JPMorgan 4 12.216 2,256 15 7 6.280 5.936
UBS 5 9.545 1,763 31 4 12.990 -3.445
RBCCapitalMarkets 6 6.230 1,151 19 5 7.564 -1.334
Stifel 7 2.967 548 18 6 7.270 -4.303
Citi 8 1.567 289 8 8 2.159 -0.592
LadenburgThalmann&Co 9 1.111 205 14 12 1.196 -0.085
JanneyMontgomeryScottLLC 10 1.053 194 12 15 0.738 0.315
Barclays 11 0.975 180 2 - - 0.975
GoldmanSachs 12 0.870 161 2 18 0.499 0.371
BRiley&Co 13 0.672 124 8 28 0.177 0.495
USBancorp 14 0.623 115 1 - - 0.623
HSBC 15 0.433 80 1 - - 0.433
CreditSuisse 16 0.375 69 3 18 0.499 -0.124
KeyBancCapitalMarkets 17 0.329 61 1 23 0.303 0.026
WilliamBlair&CoLLC 18 0.297 55 4 21 0.321 -0.024
AGP/AllianceGlobalPartnersCorp 19 0.271 50 1 - - 0.271
BB&T 20 0.265 49 6 16 0.616 -0.351
TOTAL 100% 18,469 84 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page8
CanadaFixedIncomeReviewFY2018creditedCanadaCorporateBondsvolumedecreased12.23%toCAD95.9Blnwhiledealcountdecreased11.54%to207offeringsyear-on-year.CanadaCorporateBonds-Bonusvolumedecreased12.23%year-on-yeartoCAD95.9Blnwhilethedealcountdecreased11.54%to207.CanadaGovernmentBondsvolumeincreased3.29%year-on-yeartoCAD108.8Blnover333deals.TDSecuritiesrankedasthetopCanadaCorporateBondsunderwriterforFY2018with22.19%marketshare.Thebankunderwrote89dealsovertheperiod.RBCCapitalMarketsandBMOCapitalMarketsrankedsecondandthirdwith20.04%and17.40%marketshare,respectively.
CanadaCorporateBonds
FY2018 FY2017
Firm Rank MktShare(%) Volume(CADMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
TDSecurities 1 22.193 21,277 89 3 17.832 4.361
RBCCapitalMarkets 2 20.035 19,209 110 1 21.093 -1.058
BMOCapitalMarkets 3 17.400 16,682 74 4 16.538 0.862
CIBC 4 16.631 15,945 76 2 18.069 -1.438
Scotiabank 5 11.740 11,255 53 5 12.201 -0.461
HSBC 6 3.960 3,796 22 6 4.200 -0.240
NationalBankFinancialInc 7 3.611 3,462 21 7 3.898 -0.287
LaurentianBankofCanada 8 1.304 1,250 3 10 0.931 0.373
BankofAmericaMerrillLynch 9 1.043 1,000 7 8 2.182 -1.139
DesjardinsCapitalMarkets 10 0.765 733 6 9 1.068 -0.303
TOTAL 100% 95,873 207 100%
CanadaGovernmentBonds
FY2018 FY2017
Firm Rank MktShare(%) Volume(CADMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
NationalBankFinancialInc 1 22.982 24,996 127 1 24.120 -1.138
RBCCapitalMarkets 2 19.542 21,255 68 3 18.229 1.313
TDSecurities 3 15.952 17,350 37 2 20.502 -4.550
CIBC 4 14.982 16,295 114 4 14.639 0.343
Scotiabank 5 12.973 14,110 32 6 9.242 3.731
BMOCapitalMarkets 6 12.160 13,226 52 5 11.780 0.380
HSBC 7 0.454 494 4 8 0.386 0.068
DesjardinsCapitalMarkets 8 0.325 353 14 7 0.422 -0.097
BankofAmericaMerrillLynch 9 0.230 250 2 9 0.348 -0.118
Casgrain&Co 10 0.218 238 4 11 0.088 0.130
TOTAL 100% 108,763 333 100%
Financials59%
ConsumerDiscretionary10%
Industrials8%
Utilities7%
Energy6%
Communications5%
Others5%
CanadaCorporateBonds:QuarterlyVolume
Q420
13
Q420
13
Q420
14
Q420
14
Q420
15
Q420
15
Q420
16
Q420
16
Q420
17
Q420
17
QuartersQuarters
Q420
18
Q420
18
1010
2020
3030
US
DB
lnU
SD
Bln
00
4040
2020
4040
6060
8080
DealC
ountD
ealCount
00
9090
DealCount Amount
CanadaCorporateBonds:IndustryBreakdown
59%
10%
8%
7%
6%5%
5%
CanadaCorporateBonds:ManagerRankingsHistory
TDS
ecuri
ties
RBC
Capit
alMa
rkets
BMO
Capit
alMa
rkets
CIBC
Scoti
aban
k
HSBC
10
20
Mar
ketS
hare
(%)
0
30
2018 2017 2016
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page9
LatinAmericaFixedIncomeReviewFY2018creditedLatinAmericanBondsvolumedecreased29.21%toUSD132.5Blnwhiledealcountdecreased22.44%to636offeringsyear-on-year.LatinAmericanLocalCurrencyBondsvolumeincreased1.62%year-on-yeartoUSD69.5Blnwhilethedealcountdecreased10.47%to838.BrazilianDomesticBondsvolumeincreased38.70%year-on-yeartoBRL120.9Blnover347deals.CitirankedasthetopLatinAmericanBondsunderwriterforFY2018with12.01%marketshare.Thebankunderwrote74dealsovertheperiod.BancoItauBBAandBancoSantanderrankedsecondandthirdwith9.18%and8.50%marketshare,respectively.
LatinAmericanBonds
FY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
Citi 1 12.006 15,908 74 1 12.085 -0.079
BancoItauBBA 2 9.183 12,168 115 5 7.147 2.036
BancoSantander 3 8.499 11,261 99 2 9.344 -0.845
JPMorgan 4 8.154 10,805 44 3 9.170 -1.016
HSBC 5 8.041 10,654 52 4 9.118 -1.077
BradescoBBISA 6 6.846 9,071 90 8 4.904 1.942
DeutscheBank 7 4.939 6,544 14 9 4.007 0.932
BancoBilbaoVizcayaArgentaria 8 4.919 6,517 64 7 5.671 -0.752
Scotiabank 9 4.266 5,653 56 12 2.657 1.609
BancodoBrasilSA 10 4.107 5,442 39 14 2.416 1.691
TOTAL 100% 132,503 636 100%
LatinAmericanLocalCurrencyBonds
FY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
BancoItauBBA 1 15.279 10,613 103 1 11.919 3.360
BradescoBBISA 2 11.785 8,186 81 3 9.506 2.279
BancoSantander 3 8.678 6,028 76 2 11.419 -2.741
JPMorgan 4 7.937 5,513 117 8 4.010 3.927
Scotiabank 5 6.096 4,234 50 7 4.833 1.263
BancodoBrasilSA 6 6.074 4,219 29 12 2.540 3.534
Citi 7 5.788 4,020 54 5 6.350 -0.562
BancoBilbaoVizcayaArgentaria 8 5.544 3,851 61 4 6.948 -1.404
HSBC 9 4.205 2,921 44 6 5.102 -0.897
BankABC 10 3.239 2,250 9 23 0.893 2.346
TOTAL 100% 69,464 838 100%
Government30%
Financials19%
Energy13%
Utilities12%
ConsumerDiscretionary6%
Others20%
LatinAmericanBonds:QuarterlyVolume
Q420
13
Q420
13
Q420
14
Q420
14
Q420
15
Q420
15
Q420
16
Q420
16
Q420
17
Q420
17
QuartersQuarters
Q420
18
Q420
18
2020
4040
6060
US
DB
lnU
SD
Bln
00
8080
200200
400400 DealCount
DealC
ount
00
600600
DealCount Amount
LatinAmericanBonds:IndustryBreakdown
30%
19%13%
12%
6%
20%
LatinAmericanBonds:ManagerRankingsHistory
Citi
Banc
oItau
BBA
Banc
oSan
tande
r
JPM
organ
HSBC
Brad
esco
BBI
SA
5
10
Mar
ketS
hare
(%)
0
15
2018 2017 2016
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page10
EMEAFixedIncomeReviewFY2018creditedEuropeanCorporate&FinancialBondsvolumedecreased1.67%toEUR1.2Trlnwhiledealcountdecreased2.29%to5,331offeringsyear-on-year.EMEACorporateInvestmentGradeBonds(incEM)volumedecreased21.01%year-on-yeartoEUR271.5Blnwhilethedealcountdecreased19.08%to619.WesternEuropeanCorporateHighYieldBonds-Riskvolumedecreased37.14%year-on-yeartoEUR58.9Blnover181deals.HSBCrankedasthetopEuropeanCorporate&FinancialBondsunderwriterforFY2018with6.39%marketshare.Thebankunderwrote453dealsovertheperiod.DeutscheBankandBarclaysrankedsecondandthirdwith5.46%and4.97%marketshare,respectively.
EuropeanCorporate&FinancialBonds:HighlightsofFY2018
EuropeanCorporate&FinancialBonds:QuarterlyVolume
Q42
013
Q42
013
Q42
014
Q42
014
Q42
015
Q42
015
Q42
016
Q42
016
Q42
017
Q42
017
QuartersQuarters
Q42
018
Q42
018
100100
200200
300300
400400
EU
RB
lnE
UR
Bln
00
500500
500500
1,0001,000
1,5001,500
DealC
ountD
ealCount
00
2,0002,000
DealCount Other HighYield
InvestmentGrade
TopUnderwriterHSBC
Numberofdeals 453
Volume(EURMln) 75,716
AvgDealsize(EURMln) 167.1
MarketSummaryNumberofdeals 5,331
Volume(EURMln) 1,184,760
AvgDealsize(EURMln) 222.2
Issuer Industry Volume(EURMln) Date
BayerUSFinanceIILLC HealthCare 3,016 06/18/2018
UniCreditSpA Financials 2,658 11/27/2018
VodafoneGroupPLC Communications 2,566 05/23/2018
VodafoneGroupPLC Communications 2,566 05/23/2018
HSBCHoldingsPLC Financials 2,548 06/12/2018
BarclaysPLC Financials 2,156 08/07/2018
BayerUSFinanceIILLC HealthCare 2,154 06/18/2018
HSBCHoldingsPLC Financials 2,151 09/05/2018
Anheuser-BuschInBevWorldwideInc ConsumerStaples 2,039 03/20/2018
Anheuser-BuschInBevWorldwideInc ConsumerStaples 2,039 03/20/2018
Financials62%
ConsumerDiscretionary10%
Others28%
EuropeanCorporate&FinancialBonds:IndustryBreakdown
EuropeanCorporate&FinancialBonds:SpreadtoBenchmark
Q420
13
Q420
13
Q420
14
Q420
14
Q420
15
Q420
15
Q420
16
Q420
16
Q420
17
Q420
17
QuartersQuarters
Q420
18
Q420
18
200200
400400
600600
Bas
isp
oint
sB
asis
poi
nts
00
700700
HighYield
InvestmentGrade
62%10%
28%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page11
EuropeanBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(EURMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
HSBC 1 6.527 104,051 597 1 6.000 0.527
Barclays 2 5.593 89,159 468 2 5.731 -0.138
DeutscheBank 3 5.055 80,578 512 4 5.084 -0.029
JPMorgan 4 4.828 76,971 498 5 4.573 0.255
BNPParibas 5 4.800 76,521 475 3 5.227 -0.427
Citi 6 4.017 64,044 460 6 4.351 -0.334
SocieteGenerale 7 3.601 57,402 393 8 3.708 -0.107
CreditAgricoleCIB 8 3.428 54,654 406 10 3.515 -0.087
GoldmanSachs 9 3.415 54,440 320 7 3.750 -0.335
BankofAmericaMerrillLynch 10 3.208 51,145 345 9 3.516 -0.308
UniCredit 11 2.965 47,266 382 11 3.398 -0.433
NatWestMarkets 12 2.747 43,788 257 14 2.523 0.224
CreditSuisse 13 2.479 39,526 343 13 2.547 -0.068
MorganStanley 14 2.388 38,069 272 15 2.292 0.096
UBS 15 2.210 35,229 268 12 2.666 -0.456
Commerzbank 16 2.097 33,437 262 17 1.801 0.296
Natixis 17 2.013 32,096 263 18 1.721 0.292
BancoSantander 18 1.989 31,710 211 16 2.199 -0.210
LandesbankHessen-ThuringenGirozentrale
19 1.746 27,838 298 20 1.555 0.191
DanskeBank 20 1.680 26,781 362 25 1.195 0.485
TOTAL 100% 1,594,177 6,705 100%
WesternEuropeanBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(EURMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
HSBC 1 6.562 102,676 586 1 6.054 0.508
Barclays 2 5.633 88,134 461 2 5.766 -0.133
BNPParibas 3 5.054 79,073 467 3 5.605 -0.551
DeutscheBank 4 4.975 77,842 493 4 5.016 -0.041
JPMorgan 5 4.636 72,538 460 5 4.289 0.347
Citi 6 3.802 59,484 427 6 4.173 -0.371
CreditAgricoleCIB 7 3.493 54,654 406 10 3.595 -0.102
SocieteGenerale 8 3.487 54,564 365 11 3.586 -0.099
GoldmanSachs 9 3.419 53,500 314 7 3.704 -0.285
UniCredit 10 3.297 51,586 338 8 3.681 -0.384
BankofAmericaMerrillLynch 11 3.266 51,104 344 9 3.610 -0.344
NatWestMarkets 12 2.927 45,788 258 13 2.601 0.326
UBS 13 2.520 39,433 258 12 2.649 -0.129
CreditSuisse 14 2.496 39,058 334 14 2.579 -0.083
MorganStanley 15 2.413 37,749 266 15 2.336 0.077
Commerzbank 16 2.145 33,565 250 17 1.773 0.372
Natixis 17 2.013 31,502 257 18 1.759 0.254
BancoSantander 18 1.977 30,939 206 16 2.287 -0.310
LandesbankHessen-ThuringenGirozentrale 19 1.779 27,838 298 20 1.603 0.176
DanskeBank 20 1.705 26,669 361 25 1.232 0.473
TOTAL 100% 1,564,589 6,409 100%
EasternEuropeanBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
VTBCapital 1 12.432 8,848 58 1 11.884 0.548
JPMorgan 2 6.425 4,572 33 3 7.804 -1.379
UniCredit 3 5.641 4,015 55 9 3.462 2.179
Citi 4 5.571 3,965 23 6 4.510 1.061
Gazprombank 5 5.546 3,947 46 2 7.900 -2.354
SberbankCIBCJSC 6 5.535 3,939 55 4 7.094 -1.559
ErsteGroupBank 7 5.417 3,855 35 17 2.433 2.984
DeutscheBank 8 4.356 3,100 17 10 3.460 0.896
SocieteGenerale 9 3.795 2,701 25 7 4.423 -0.628
RaiffeisenBankInternationalGroup 10 3.346 2,381 27 5 4.513 -1.167
REGIONInvestmentCo 11 3.031 2,157 27 25 0.964 2.067
RosselkhozbankOJSC 12 2.798 1,991 18 20 1.490 1.308
INGGroep 13 2.417 1,720 12 13 2.931 -0.514
BNPParibas 14 2.387 1,699 10 8 3.893 -1.506
HSBC 15 2.298 1,636 11 16 2.438 -0.140
SovcombankICBJSC 16 2.221 1,581 26 14 2.549 -0.328
AlfaBank 17 1.755 1,249 16 24 1.029 0.726
Barclays 18 1.747 1,244 7 12 3.018 -1.271
IntesaSanpaolo 19 1.730 1,231 8 15 2.452 -0.722
PKOBankPolskiSA 20 1.718 1,223 10 22 1.372 0.346
TOTAL 100% 71,170 316 100%
WesternEuropeanCorporateHighYieldBonds-RiskFY2018 FY2017
Firm Rank MktShare(%) Volume(EURMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
GoldmanSachs 1 8.959 5,277 50 2 7.522 1.437
CreditSuisse 2 7.951 4,684 55 3 6.582 1.369
JPMorgan 3 6.838 4,028 50 1 8.517 -1.679
DeutscheBank 4 6.739 3,970 55 5 6.075 0.664
BNPParibas 5 6.317 3,721 56 4 6.203 0.114
Barclays 6 5.382 3,170 41 6 5.696 -0.314
Citi 7 4.131 2,433 33 9 4.339 -0.208
HSBC 8 4.011 2,362 39 8 5.110 -1.099
CreditAgricoleCIB 9 3.657 2,154 32 11 3.531 0.126
MorganStanley 10 3.295 1,941 23 7 5.434 -2.139
BankofAmericaMerrillLynch 11 3.260 1,920 24 12 3.516 -0.256
SocieteGenerale 12 2.838 1,671 30 10 3.635 -0.797
UniCredit 13 2.626 1,547 25 13 3.224 -0.598
INGGroep 14 2.516 1,482 24 14 2.878 -0.362
Natixis 15 2.007 1,182 19 17 1.681 0.326
UBS 16 1.697 1,000 16 16 1.937 -0.240
Nordea 17 1.668 982 17 19 1.336 0.332
DanskeBank 18 1.556 917 14 30 0.621 0.935
NatWestMarkets 19 1.513 891 15 15 2.385 -0.872
IntesaSanpaolo 20 1.172 691 11 18 1.617 -0.445
TOTAL 100% 58,903 181 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page12
EMEACorporateInvestmentGradeBonds(incEM)FY2018 FY2017
Firm Rank MktShare(%) Volume(EURMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
BNPParibas 1 7.938 21,555 173 2 7.751 0.187
SocieteGenerale 2 6.468 17,562 130 5 5.304 1.164
DeutscheBank 3 6.070 16,482 105 3 6.621 -0.551
HSBC 4 5.663 15,378 138 4 6.535 -0.872
UniCredit 5 4.664 12,666 95 9 3.901 0.763
Barclays 6 4.620 12,544 106 1 7.799 -3.179
CreditAgricoleCIB 7 4.559 12,379 105 12 3.377 1.182
JPMorgan 8 4.043 10,977 96 7 4.404 -0.361
MitsubishiUFJFinancialGroupInc 9 3.863 10,489 95 13 3.023 0.840
INGGroep 10 3.829 10,398 85 19 1.866 1.963
GoldmanSachs 11 3.584 9,732 48 10 3.793 -0.209
Citi 12 3.500 9,503 99 6 5.081 -1.581
BankofAmericaMerrillLynch 13 3.250 8,826 74 8 3.943 -0.693
BancoSantander 14 3.172 8,614 70 11 3.543 -0.371
NatWestMarkets 15 2.838 7,707 74 15 2.592 0.246
Commerzbank 16 2.625 7,127 68 16 2.272 0.353
RBCCapitalMarkets 17 2.243 6,090 48 23 1.348 0.895
CreditSuisse 18 2.187 5,938 57 17 2.231 -0.044
MorganStanley 19 1.989 5,401 57 18 2.221 -0.232
MizuhoFinancial 20 1.907 5,177 50 14 2.672 -0.765
TOTAL 100% 271,537 619 100%
EMEACorporateHighYieldBonds(incEM)-RiskFY2018 FY2017
Firm Rank MktShare(%) Volume(EURMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
GoldmanSachs 1 6.824 5,507 54 2 6.560 0.264
CreditSuisse 2 6.728 5,429 65 5 5.242 1.486
JPMorgan 3 6.406 5,169 65 1 8.516 -2.110
DeutscheBank 4 6.082 4,908 63 4 6.065 0.017
BNPParibas 5 6.024 4,861 71 6 4.966 1.058
Citi 6 5.112 4,125 50 9 4.409 0.703
Barclays 7 4.876 3,935 49 8 4.455 0.421
HSBC 8 4.771 3,850 58 7 4.687 0.084
MorganStanley 9 3.182 2,567 30 3 6.233 -3.051
CreditAgricoleCIB 10 3.022 2,439 35 14 2.919 0.103
UniCredit 11 2.835 2,288 34 11 3.359 -0.524
BankofAmericaMerrillLynch 12 2.787 2,249 28 12 3.126 -0.339
SocieteGenerale 13 2.752 2,221 38 10 3.461 -0.709
INGGroep 14 2.595 2,094 29 13 2.923 -0.328
Natixis 15 2.264 1,827 25 21 1.296 0.968
UBS 16 1.573 1,269 19 15 2.221 -0.648
RBCCapitalMarkets 17 1.436 1,158 17 35 0.491 0.945
NatWestMarkets 18 1.411 1,138 17 16 1.838 -0.427
DanskeBank 19 1.372 1,107 16 37 0.479 0.893
Nordea 20 1.289 1,040 21 22 1.101 0.188
TOTAL 100% 80,692 268 100%
EuroCurrencyBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(EURMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
BNPParibas 1 6.249 75,185 463 1 6.582 -0.333
DeutscheBank 2 6.134 73,799 422 4 5.373 0.761
HSBC 3 5.895 70,922 458 3 5.602 0.293
SocieteGenerale 4 5.143 61,883 368 5 4.972 0.171
JPMorgan 5 4.887 58,800 351 9 4.572 0.315
CreditAgricoleCIB 6 4.704 56,599 373 7 4.650 0.054
Barclays 7 4.696 56,501 293 2 5.766 -1.070
UniCredit 8 4.287 51,583 355 6 4.950 -0.663
GoldmanSachs 9 3.762 45,260 228 8 4.641 -0.879
Citi 10 3.550 42,711 297 10 4.147 -0.597
Commerzbank 11 3.366 40,492 269 12 2.688 0.678
BankofAmericaMerrillLynch 12 3.038 36,553 240 11 3.977 -0.939
Natixis 13 2.860 34,409 254 14 2.408 0.452
NatWestMarkets 14 2.655 31,941 160 18 2.035 0.620
LandesbankHessen-ThuringenGirozentrale
15 2.306 27,749 296 17 2.062 0.244
DZBank 16 2.281 27,448 287 22 1.429 0.852
INGGroep 17 2.236 26,902 210 19 2.001 0.235
MorganStanley 18 2.134 25,670 164 13 2.472 -0.338
BancoSantander 19 2.107 25,350 160 15 2.278 -0.171
LandesbankBaden-Wuerttemberg 20 2.104 25,314 274 16 2.167 -0.063
TOTAL 100% 1,203,138 3,762 100%
Euro&SterlingCorporate&FinancialBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(EURMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
BNPParibas 1 6.425 60,030 409 1 6.420 0.005
DeutscheBank 2 6.352 59,351 358 4 5.527 0.825
HSBC 3 6.037 56,409 401 3 5.655 0.382
SocieteGenerale 4 4.493 41,981 288 7 3.914 0.579
Barclays 5 4.241 39,626 284 2 6.122 -1.881
UniCredit 6 4.053 37,870 271 5 4.351 -0.298
CreditAgricoleCIB 7 3.914 36,576 281 6 4.065 -0.151
JPMorgan 8 3.515 32,845 269 8 3.781 -0.266
GoldmanSachs 9 3.299 30,829 193 9 3.466 -0.167
NatWestMarkets 10 3.012 28,139 207 14 2.616 0.396
Natixis 11 2.902 27,117 208 17 2.213 0.689
UBS 12 2.831 26,451 116 21 1.743 1.088
LandesbankHessen-ThuringenGirozentrale 13 2.795 26,112 267 15 2.588 0.207
BankofAmericaMerrillLynch 14 2.662 24,871 175 10 3.328 -0.666
Commerzbank 15 2.556 23,885 198 20 1.978 0.578
Citi 16 2.509 23,446 235 11 3.076 -0.567
BancoSantander 17 2.432 22,722 171 12 2.935 -0.503
INGGroep 18 2.426 22,666 187 19 2.030 0.396
MorganStanley 19 2.143 20,024 151 13 2.841 -0.698
CreditSuisse 20 1.850 17,286 158 16 2.308 -0.458
TOTAL 100% 934,381 2,999 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page13
SterlingBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(GBPMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
HSBC 1 13.876 16,662 113 2 13.244 0.632
NatWestMarkets 2 11.982 14,388 109 3 9.098 2.884
Barclays 3 10.709 12,859 92 1 14.286 -3.577
RBCCapitalMarkets 4 8.859 10,638 93 4 6.019 2.840
LloydsBank 5 6.692 8,036 56 5 5.439 1.253
Nomura 6 5.206 6,252 42 15 2.335 2.871
JPMorgan 7 4.760 5,716 32 7 4.321 0.439
TDSecurities 8 4.307 5,171 43 16 1.777 2.530
BankofAmericaMerrillLynch 9 3.872 4,650 35 11 4.095 -0.223
DeutscheBank 10 3.841 4,612 27 6 5.039 -1.198
BancoSantander 11 3.363 4,038 28 10 4.214 -0.851
CreditSuisse 12 2.984 3,584 35 12 3.484 -0.500
Citi 13 2.970 3,566 30 9 4.234 -1.264
GoldmanSachs 14 2.497 2,998 17 13 2.723 -0.226
BNPParibas 15 2.253 2,705 20 14 2.639 -0.386
MorganStanley 16 1.936 2,325 14 8 4.286 -2.350
UBS 17 1.622 1,948 4 17 1.593 0.029
MonsasLtd 18 1.249 1,500 1 - - 1.249
FMSWertmanagement 19 0.999 1,200 1 19 1.208 -0.209
INGGroep 20 0.588 707 7 32 0.214 0.374
TOTAL 100% 120,079 386 100%
SwissFrancBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(CHFMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
CreditSuisse 1 26.076 14,914 152 1 26.299 -0.223
UBS 2 23.214 13,277 134 2 22.772 0.442
SchweizerischeKantonalbanken 3 11.424 6,534 33 3 13.439 -2.015
ZuercherKantonalbank 4 9.691 5,543 62 4 9.421 0.270
RaiffeisenSwitzerland 5 7.598 4,346 48 5 6.531 1.067
BNPParibas 6 3.248 1,858 17 6 4.040 -0.792
DeutscheBank 7 3.190 1,825 17 7 3.557 -0.367
BaslerKantonalbank 8 1.733 991 10 8 1.812 -0.079
HSBC 9 1.630 933 7 9 1.762 -0.132
Commerzbank 10 1.569 898 11 10 1.070 0.499
BasellandchaflicheKantonalbank 11 1.428 817 7 24 0.349 1.079
LuzernerKantonalbank 12 1.180 675 2 13 0.762 0.418
VontobelHoldingAG 13 1.088 622 8 14 0.699 0.389
AargauischeKantonalbank 14 1.049 600 5 11 1.029 0.020
GraubundnerKantonalbank 15 0.874 500 2 - - 0.874
ThurgauerKantonalbank 16 0.717 410 2 17 0.572 0.145
Scotiabank 17 0.415 238 2 - - 0.415
BanqueCantonaledeFribourg 18 0.350 200 1 22 0.476 -0.126
CieFinanciereTraditionSA 19 0.336 192 21 16 0.581 -0.245
Gazprombank 20 0.328 188 1 25 0.238 0.090
TOTAL 100% 57,192 345 100%
SwedishKronaBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(SEKMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
Nordea 1 21.450 82,087 175 1 20.947 0.503
DanskeBank 2 20.039 76,687 180 2 20.254 -0.215
SEB 3 18.056 69,101 137 3 17.767 0.289
Swedbank 4 17.065 65,308 137 4 13.028 4.037
SvenskaHandelsbanken 5 10.340 39,572 97 5 10.940 -0.600
DNBASA 6 5.333 20,408 51 6 5.333 0.000
DeutscheBank 7 1.511 5,783 6 21 0.249 1.262
JPMorgan 8 0.649 2,483 8 10 0.972 -0.323
ABGSundalCollierAsa 9 0.592 2,266 8 7 1.339 -0.747
CreditAgricoleCIB 10 0.575 2,200 9 12 0.772 -0.197
ParetoSecurities 11 0.557 2,130 8 9 1.004 -0.447
TDSecurities 12 0.525 2,010 5 - - 0.525
Citi 13 0.466 1,783 4 18 0.496 -0.030
HSBC 14 0.455 1,740 6 8 1.084 -0.629
GoldmanSachs 15 0.348 1,333 6 15 0.714 -0.366
Nomura 16 0.253 968 6 14 0.728 -0.475
Carnegie 17 0.248 950 5 11 0.908 -0.660
BankofAmericaMerrillLynch 18 0.206 790 3 16 0.688 -0.482
BNPParibas 19 0.152 583 2 19 0.402 -0.250
ArcticSecurities 20 0.148 565 2 17 0.561 -0.413
TOTAL 100% 382,696 667 100%
Sub-SaharaAfricaCurrencyBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
NedbankLtd 1 19.007 1,873 42 3 9.343 9.664
StandardBankofSouthAfrica 2 17.575 1,732 43 1 30.884 -13.309
FirstRandLtd 3 16.999 1,675 54 2 13.927 3.072
AbsaGroupLtd 4 10.067 992 22 - - 10.067
Investec 5 5.406 533 17 7 4.298 1.108
JPMorgan 6 5.221 515 7 11 2.261 2.960
FidelityBankLtd 7 3.500 345 8 10 3.660 -0.160
Barclays 8 3.185 314 8 4 6.114 -2.929
DatabankFinancialServicesLtd 9 2.997 295 8 35 0.041 2.956
ICSecuritiesGhanaLtd 10 2.977 293 7 - - 2.977
FirstRandBank 11 1.645 162 2 - - 1.645
EskomHoldingsLtd 12 1.343 132 3 - - 1.343
BNPParibas 13 0.845 83 5 15 0.959 -0.114
BasisPointsCapital 14 0.835 82 3 - - 0.835
GoldmanSachs 15 0.784 77 4 28 0.260 0.524
TDSecurities 16 0.770 76 3 16 0.753 0.017
LibertyGroupLtd 17 0.681 67 1 - - 0.681
StandardCharteredBank 18 0.661 65 3 9 3.680 -3.019
NatWestMarkets 19 0.626 62 5 - - 0.626
RBCCapitalMarkets 20 0.624 61 3 12 1.365 -0.741
TOTAL 100% 9,855 235 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page14
CEEMEABondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
Citi 1 8.787 20,178 99 2 9.108 -0.321
StandardCharteredBank 2 8.295 19,047 102 5 3.996 4.299
JPMorgan 3 6.723 15,438 90 1 9.524 -2.801
DeutscheBank 4 6.092 13,990 50 7 3.643 2.449
HSBC 5 5.896 13,539 81 3 7.047 -1.151
VTBCapital 6 3.973 9,124 61 4 4.398 -0.425
BNPParibas 7 3.048 6,999 43 6 3.963 -0.915
SocieteGenerale 8 2.715 6,235 48 12 2.430 0.285
GoldmanSachs 9 2.693 6,184 23 8 3.086 -0.393
Barclays 10 2.365 5,431 44 9 2.888 -0.523
BankofAmericaMerrillLynch 11 1.943 4,462 22 15 1.798 0.145
UniCredit 12 1.854 4,256 58 14 1.799 0.055
Gazprombank 13 1.719 3,947 46 10 2.790 -1.071
SberbankCIBCJSC 14 1.695 3,892 54 11 2.506 -0.811
ErsteGroupBank 15 1.659 3,809 34 22 1.035 0.624
MitsubishiUFJFinancialGroupInc 16 1.553 3,567 24 13 1.807 -0.254
SumitomoMitsuiFinancial 17 1.489 3,419 27 56 0.313 1.176
INGGroep 18 1.376 3,159 24 20 1.346 0.030
FirstAbuDhabiBankPJSC 19 1.344 3,087 28 16 1.793 -0.449
CreditSuisse 20 1.326 3,044 21 36 0.558 0.768
TOTAL 100% 229,630 877 100%
MENABonds&SukukFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
StandardCharteredBank 1 16.522 14,239 79 4 5.295 11.227
HSBC 2 9.882 8,516 54 2 13.343 -3.461
Citi 3 8.306 7,158 39 3 10.657 -2.351
JPMorgan 4 6.745 5,813 32 1 15.623 -8.878
DeutscheBank 5 6.265 5,400 15 8 3.905 2.360
BankofAmericaMerrillLynch 6 3.565 3,073 12 11 2.651 0.914
FirstAbuDhabiBankPJSC 7 3.457 2,979 27 5 5.025 -1.568
BNPParibas 8 2.867 2,471 15 6 4.521 -1.654
CreditAgricoleCIB 9 2.800 2,413 16 20 1.092 1.708
Barclays 10 2.584 2,227 18 17 1.576 1.008
MorganStanley 11 2.533 2,183 9 13 2.325 0.208
SumitomoMitsuiFinancial 12 2.361 2,034 14 36 0.390 1.971
MitsubishiUFJFinancialGroupInc 13 2.227 1,919 11 9 3.628 -1.401
GulfInternationalBankBSC 14 2.127 1,833 7 7 4.097 -1.970
CreditSuisse 15 2.077 1,790 8 50 0.121 1.956
GoldmanSachs 16 1.630 1,405 7 10 2.873 -1.243
Industrial&CommBankofChina 17 1.583 1,364 5 26 0.632 0.951
MizuhoFinancial 18 1.526 1,315 18 30 0.449 1.077
BankofChina 19 1.510 1,302 4 - - 1.510
QatarNationalBank 20 1.236 1,065 4 19 1.095 0.141
TOTAL 100% 86,183 227 100%
AfricaBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
Citi 1 13.752 5,983 22 1 14.175 -0.423
StandardCharteredBank 2 11.759 5,116 21 3 9.546 2.213
DeutscheBank 3 8.419 3,663 14 10 3.094 5.325
JPMorgan 4 8.341 3,629 19 4 7.067 1.274
StandardBankofSouthAfrica 5 6.670 2,902 48 2 11.471 -4.801
FirstRandLtd 6 5.010 2,180 57 8 4.242 0.768
NedbankLtd 7 4.523 1,968 39 9 4.147 0.376
BNPParibas 8 4.439 1,931 10 5 6.383 -1.944
AbsaGroupLtd 9 3.632 1,580 25 - - 3.632
GoldmanSachs 10 3.363 1,463 4 23 0.997 2.366
HSBC 11 3.002 1,306 7 11 2.297 0.705
Industrial&CommBankofChina 12 2.969 1,292 4 25 0.838 2.131
SocieteGenerale 13 2.736 1,190 7 21 1.156 1.580
Barclays 14 2.554 1,111 13 7 4.815 -2.261
MorganStanley 15 2.137 930 4 35 0.243 1.894
FirstAbuDhabiBankPJSC 16 1.839 800 3 - - 1.839
BankofAmericaMerrillLynch 17 1.796 781 4 15 1.597 0.199
Natixis 18 1.487 647 5 6 5.986 -4.499
IntesaSanpaolo 19 1.416 616 2 - - 1.416
CreditSuisse 20 0.830 361 3 19 1.210 -0.380
TOTAL 100% 43,508 216 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page15
SpainBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(EURMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
BancoSantander 1 12.653 11,108 47 1 11.036 1.617
BancoBilbaoVizcayaArgentaria 2 10.758 9,444 31 2 10.731 0.027
HSBC 3 8.512 7,472 29 4 6.743 1.769
Barclays 4 7.873 6,912 27 3 7.280 0.593
Citi 5 6.575 5,772 23 5 6.584 -0.009
BNPParibas 6 4.288 3,765 21 7 4.951 -0.663
SocieteGenerale 7 4.177 3,666 18 10 3.951 0.226
JPMorgan 8 4.072 3,575 17 11 3.891 0.181
CajaRuraldeNavarra 9 3.417 3,000 1 - - 3.417
NatWestMarkets 10 3.388 2,974 14 15 2.073 1.315
GoldmanSachs 11 3.344 2,935 15 9 4.048 -0.704
CreditAgricoleCIB 12 3.182 2,794 21 12 3.526 -0.344
UniCredit 13 2.639 2,317 16 16 1.967 0.672
LaCaixa 14 2.269 1,991 20 6 5.675 -3.406
MorganStanley 15 2.232 1,959 10 8 4.115 -1.883
CreditSuisse 16 2.220 1,949 16 17 1.962 0.258
DeutscheBank 17 2.204 1,935 19 19 1.550 0.654
Natixis 18 1.997 1,753 13 18 1.684 0.313
BankofAmericaMerrillLynch 19 1.907 1,674 12 13 2.443 -0.536
BancoSabadell 20 1.881 1,652 8 14 2.439 -0.558
TOTAL 100% 87,785 169 100%
SpainCorporatesFY2018 FY2017
Firm Rank MktShare(%) Volume(EURMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
GoldmanSachs 1 6.371 1,172 7 13 2.597 3.774
Citi 2 6.331 1,165 10 8 5.240 1.091
BNPParibas 3 6.072 1,117 14 10 4.621 1.451
BancoSantander 4 5.734 1,055 16 2 7.262 -1.528
BancoBilbaoVizcayaArgentaria 5 5.444 1,002 11 3 6.430 -0.986
Barclays 6 4.688 863 11 4 6.358 -1.670
SocieteGenerale 7 4.586 844 9 5 5.862 -1.276
LaCaixa 8 4.438 816 13 7 5.358 -0.920
CreditSuisse 9 4.254 783 7 23 1.648 2.606
HSBC 10 4.060 747 8 9 4.954 -0.894
UniCredit 11 3.942 725 8 15 2.466 1.476
DeutscheBank 12 3.821 703 9 19 1.863 1.958
JPMorgan 13 3.505 645 8 6 5.738 -2.233
NatWestMarkets 14 3.384 623 8 12 3.501 -0.117
CreditAgricoleCIB 15 3.181 585 9 11 3.545 -0.364
MitsubishiUFJFinancialGroupInc 16 2.714 499 6 17 2.114 0.600
BankofAmericaMerrillLynch 17 2.708 498 6 22 1.681 1.027
MizuhoFinancial 18 2.636 485 5 14 2.475 0.161
IntesaSanpaolo 19 2.155 397 4 20 1.853 0.302
MorganStanley 20 2.134 393 5 1 8.320 -6.186
TOTAL 100% 18,397 63 100%
SpainFinancialsFY2018 FY2017
Firm Rank MktShare(%) Volume(EURMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
BancoSantander 1 14.463 5,149 22 1 11.134 3.329
CajaRuraldeNavarra 2 8.426 3,000 1 - - 8.426
BancoBilbaoVizcayaArgentaria 3 7.501 2,671 7 2 8.799 -1.298
Barclays 4 4.623 1,646 10 3 5.371 -0.748
UniCredit 5 4.470 1,592 8 22 1.772 2.698
Citi 6 4.397 1,566 10 6 4.874 -0.477
HSBC 7 4.260 1,517 10 8 4.600 -0.340
Natixis 8 3.939 1,403 8 16 3.079 0.860
BancoSabadell 9 3.698 1,317 3 7 4.713 -1.015
UBS 10 3.581 1,275 11 19 2.215 1.366
DeutscheBank 11 3.459 1,232 10 18 2.616 0.843
BankofAmericaMerrillLynch 12 3.302 1,176 6 5 4.905 -1.603
LaCaixa 13 3.300 1,175 7 4 4.921 -1.621
CreditSuisse 14 3.276 1,166 9 11 3.740 -0.464
GoldmanSachs 15 3.080 1,097 7 9 4.533 -1.453
SocieteGenerale 16 2.826 1,006 6 17 2.891 -0.065
JPMorgan 17 2.728 971 6 13 3.279 -0.551
CreditAgricoleCIB 18 2.659 947 7 12 3.490 -0.831
MorganStanley 19 2.528 900 4 14 3.175 -0.647
Nomura 20 2.476 881 6 15 3.130 -0.654
TOTAL 100% 35,604 86 100%
SpainGovernment&AgenciesFY2018 FY2017
Firm Rank MktShare(%) Volume(EURMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
BancoBilbaoVizcayaArgentaria 1 17.083 5,771 13 1 16.220 0.863
HSBC 2 15.417 5,208 11 3 10.656 4.761
BancoSantander 3 14.514 4,903 9 2 13.668 0.846
Barclays 4 13.034 4,403 6 4 10.276 2.758
Citi 5 9.004 3,042 3 5 9.644 -0.640
JPMorgan 6 5.797 1,958 3 11 3.288 2.509
BNPParibas 7 5.427 1,833 2 7 6.532 -1.105
SocieteGenerale 8 5.377 1,817 3 9 3.849 1.528
NatWestMarkets 9 4.933 1,667 1 12 2.192 2.741
CreditAgricoleCIB 10 3.735 1,262 5 10 3.556 0.179
GoldmanSachs 11 1.973 667 1 8 4.515 -2.542
MorganStanley 11 1.973 667 1 12 2.192 -0.219
INGGroep 13 0.592 200 1 22 0.368 0.224
BancoSabadell 14 0.444 150 1 25 0.132 0.312
BancoCooperativo 15 0.298 101 1 21 0.385 -0.087
NorbolsaSociedaddeValoresSA/Spain 16 0.296 100 1 17 0.592 -0.296
Natixis 17 0.102 34 2 22 0.368 -0.266
- - - - - - - -
- - - - - - - -
- - - - - - - -
TOTAL 100% 33,783 20 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page16
Asiaex-JapanFixedIncomeReviewFY2018creditedAsiaex-JapanG3CurrencyBondsvolumedecreased19.77%toUSD264.6Blnwhiledealcountdecreased5.44%to643offeringsyear-on-year.Asiaex-JapanG3InvestmentGradeBondsvolumedecreased9.90%year-on-yeartoUSD204.3Blnwhilethedealcountincreased1.90%to428.Asiaex-JapanG3CorporateHighYieldBondsvolumedecreased30.94%year-on-yeartoUSD35.3Blnover133deals.HSBCrankedasthetopAsiaex-JapanG3CurrencyBondsunderwriterforFY2018with7.63%marketshare.Thebankunderwrote253dealsovertheperiod.CitiandBankofChinarankedsecondandthirdwith5.77%and5.12%marketshare,respectively.
Asiaex-JapanG3CurrencyBonds:HighlightsofFY2018
Issuer Industry Volume(USDMln) Date
BankofChinaHongKongLtd Financials 3,000 09/11/2018
TencentHoldingsLtd Technology 2,500 01/11/2018
PhilippineGovernmentInternationalBond Government 2,000 01/18/2018
SandsChinaLtd ConsumerDiscretionary 1,900 08/02/2018
SandsChinaLtd ConsumerDiscretionary 1,800 08/02/2018
SandsChinaLtd ConsumerDiscretionary 1,800 08/02/2018
CNACHKFinbridgeCoLtd Materials 1,750 03/07/2018
PerusahaanPenerbitSBSNIndonesiaIII Government 1,750 02/22/2018
ChinaGovernmentInternationalBond Government 1,500 10/11/2018
CNACHKFinbridgeCoLtd Materials 1,488 03/07/2018
Asiaex-JapanG3CurrencyBonds:LargestDealsbyCountry
Issuer Volume(USDMln) Date Country
TencentHoldingsLtd 2,500 01/11/2018 China
BankofChinaHongKongLtd 3,000 09/11/2018 HongKong
Export-ImportBankofIndia 1,000 01/25/2018 India
PerusahaanPenerbitSBSNIndonesiaIII 1,750 02/22/2018 Indonesia
TNBGlobalVenturesCapitalBhd 750 10/23/2018 Malaysia
PhilippineGovernmentInternationalBond 2,000 01/18/2018 Philippines
TemasekFinancialILtd 1,350 07/25/2018 Singapore
HanwhaLifeInsuranceCoLtd 1,000 04/16/2018 SouthKorea
SriLankaGovernmentInternationalBond 1,250 04/11/2018 SriLanka
BankofTaiwan 470 02/06/2018 Taiwan
BangkokBankPCL/HongKong 600 09/12/2018 Thailand
Financials52%
Government15%
Materials6%
Utilities6%
Industrials5%
ConsumerDiscretionary5%
Others11%
Asiaex-JapanG3CurrencyBonds:QuarterlyVolume
Q420
13
Q420
13
Q420
14
Q420
14
Q420
15
Q420
15
Q420
16
Q420
16
Q420
17
Q420
17
QuartersQuarters
Q420
18
Q420
18
5050
US
DB
lnU
SD
Bln
00
100100
200200
DealC
ountD
ealCount
00
400400
DealCount
Other
HighYield
InvestmentGrade
Asiaex-JapanG3CurrencyBonds:IndustryBreakdown
52%
15%
6%
6%
5%
5%
11%
Asiaex-JapanG3CurrencyBonds:ManagerRankingsHistory
HSBC Ci
ti
Bank
ofC
hina
Stan
dard
Chart
eredB
ank
Goldm
anS
achs
Bank
ofA
meric
aMerr
illLy
nch
5
10
Mar
ketS
hare
(%)
0
15
2018 2017 2016
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page17
Asiaex-JapanIssuerG3CurrencyBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
HSBC 1 7.628 20,184 253 1 7.818 -0.190
Citi 2 5.767 15,259 155 2 6.678 -0.911
BankofChina 3 5.118 13,543 213 4 5.200 -0.082
StandardCharteredBank 4 4.578 12,114 163 3 5.747 -1.169
GoldmanSachs 5 3.699 9,789 78 7 3.314 0.385
BankofAmericaMerrillLynch 6 3.330 8,810 97 9 3.266 0.064
BNPParibas 7 3.194 8,452 106 10 3.065 0.129
JPMorgan 8 2.956 7,822 80 6 3.848 -0.892
MorganStanley 9 2.733 7,231 87 8 3.303 -0.570
CreditAgricoleCIB 10 2.678 7,085 85 19 1.983 0.695
DeutscheBank 11 2.579 6,825 81 5 4.164 -1.585
DBSGroup 12 2.439 6,453 100 14 2.884 -0.445
UBS 13 2.434 6,440 91 13 2.928 -0.494
Industrial&CommBankofChina 14 2.343 6,199 131 11 3.036 -0.693
BankofCommunications 15 2.290 6,059 103 18 1.988 0.302
HaitongSecurities 16 2.279 6,030 118 16 2.289 -0.010
MizuhoFinancial 17 2.261 5,984 95 22 1.405 0.856
CreditSuisse 18 2.237 5,920 65 12 2.954 -0.717
Barclays 19 2.080 5,505 52 17 2.033 0.047
GuotaiJunanSecurities 20 1.928 5,103 114 28 1.068 0.860
TOTAL 100% 264,605 643 100%
APACex-JapanIssuerG3CurrencyBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
HSBC 1 7.618 24,267 277 1 7.968 -0.350
Citi 2 6.435 20,497 186 2 7.477 -1.042
BankofChina 3 4.252 13,543 213 6 4.203 0.049
GoldmanSachs 4 4.224 13,455 92 9 3.375 0.849
JPMorgan 5 4.022 12,811 110 3 5.518 -1.496
BankofAmericaMerrillLynch 6 3.828 12,194 119 5 4.314 -0.486
BNPParibas 7 3.817 12,158 123 10 3.089 0.728
StandardCharteredBank 8 3.803 12,114 163 4 4.645 -0.842
MorganStanley 9 2.953 9,407 100 7 4.057 -1.104
DeutscheBank 10 2.808 8,943 91 8 3.867 -1.059
UBS 11 2.579 8,215 99 11 2.848 -0.269
CreditSuisse 12 2.487 7,920 78 12 2.737 -0.250
CreditAgricoleCIB 13 2.266 7,219 86 19 1.752 0.514
MizuhoFinancial 14 2.068 6,589 99 21 1.393 0.675
DBSGroup 15 2.026 6,453 100 14 2.372 -0.346
Barclays 16 1.991 6,342 57 16 2.040 -0.049
Industrial&CommBankofChina 17 1.946 6,199 131 13 2.454 -0.508
BankofCommunications 18 1.902 6,059 103 20 1.607 0.295
HaitongSecurities 19 1.893 6,030 118 18 1.891 0.002
ANZBankingGroup 20 1.849 5,890 65 15 2.202 -0.353
TOTAL 100% 318,529 737 100%
Asiaex-JapanG3InvestmentGradeBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
HSBC 1 8.512 17,389 205 1 8.437 0.075
Citi 2 6.672 13,628 137 2 7.829 -1.157
BankofChina 3 5.163 10,546 162 4 5.139 0.024
StandardCharteredBank 4 4.469 9,128 126 3 5.956 -1.487
GoldmanSachs 5 3.996 8,162 63 5 3.946 0.050
BankofAmericaMerrillLynch 6 3.995 8,160 83 6 3.934 0.061
BNPParibas 7 3.801 7,764 90 9 3.770 0.031
CreditAgricoleCIB 8 3.395 6,936 81 14 2.604 0.791
JPMorgan 9 2.994 6,116 64 8 3.778 -0.784
BankofCommunications 10 2.756 5,630 89 15 2.429 0.327
Industrial&CommBankofChina 11 2.752 5,622 117 11 3.208 -0.456
MorganStanley 12 2.708 5,532 59 10 3.368 -0.660
MizuhoFinancial 13 2.704 5,524 84 18 1.938 0.766
DBSGroup 14 2.414 4,930 69 16 2.251 0.163
DeutscheBank 15 2.353 4,807 49 7 3.806 -1.453
Barclays 16 2.165 4,423 41 17 2.156 0.009
UBS 17 2.018 4,123 48 12 2.836 -0.818
MitsubishiUFJFinancialGroupInc 18 1.785 3,647 42 21 1.660 0.125
ChinaConstructionBank 19 1.737 3,548 77 13 2.807 -1.070
ANZBankingGroup 20 1.618 3,305 47 19 1.932 -0.314
TOTAL 100% 204,273 428 100%
Asiaex-JapanG3CorporateHighYieldBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
HaitongSecurities 1 9.907 3,498 69 1 9.246 0.661
GuotaiJunanSecurities 2 6.565 2,318 56 12 2.992 3.573
CreditSuisse 3 6.237 2,202 29 2 8.096 -1.859
ChinaCiticBank 4 5.732 2,024 31 3 6.032 -0.300
UBS 5 5.048 1,782 35 16 2.587 2.461
ChinaEverbrightBank 6 4.531 1,600 27 32 0.578 3.953
HSBC 7 4.485 1,584 34 4 5.644 -1.159
DeutscheBank 8 4.154 1,467 29 5 5.194 -1.040
StandardCharteredBank 9 4.084 1,442 23 9 4.307 -0.223
MorganStanley 10 3.886 1,372 21 6 4.767 -0.881
BankofChina 11 3.154 1,114 23 13 2.955 0.199
IndustrialSecurities 12 2.848 1,006 28 42 0.389 2.459
OrientSecurities 13 2.747 970 22 37 0.406 2.341
GoldmanSachs 14 2.624 926 10 11 2.993 -0.369
JPMorgan 15 2.305 814 11 8 4.370 -2.065
CITICSecurities 16 2.199 776 12 22 1.074 1.125
Barclays 17 2.053 725 5 14 2.770 -0.717
ChinaMerchantsBank 18 2.007 709 17 30 0.710 1.297
BankofAmericaMerrillLynch 19 1.841 650 14 17 1.929 -0.088
VTBCapital 20 1.537 543 10 33 0.568 0.969
TOTAL 100% 35,309 133 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page18
APACUSD&EURCurrencyBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
Citi 1 7.286 28,559 226 1 8.149 -0.863
HSBC 2 6.628 25,978 288 3 6.935 -0.307
JPMorgan 3 5.344 20,948 149 2 7.013 -1.669
BankofAmericaMerrillLynch 4 5.301 20,780 162 4 5.355 -0.054
GoldmanSachs 5 5.088 19,944 120 5 4.993 0.095
MorganStanley 6 4.412 17,296 133 6 4.549 -0.137
BNPParibas 7 3.816 14,958 139 10 3.076 0.740
BankofChina 8 3.428 13,437 210 9 3.513 -0.085
StandardCharteredBank 9 3.156 12,370 165 7 3.883 -0.727
MizuhoFinancial 10 2.981 11,685 124 14 2.081 0.900
DeutscheBank 11 2.605 10,210 99 8 3.531 -0.926
Barclays 12 2.548 9,989 75 11 2.542 0.006
MitsubishiUFJFinancialGroupInc 13 2.363 9,263 69 20 1.609 0.754
SumitomoMitsuiFinancial 14 2.343 9,182 54 25 1.099 1.244
UBS 15 2.207 8,650 102 12 2.494 -0.287
CreditSuisse 16 2.021 7,920 78 13 2.420 -0.399
CreditAgricoleCIB 17 2.004 7,855 90 18 1.782 0.222
DBSGroup 18 1.712 6,709 102 16 1.983 -0.271
Industrial&CommBankofChina 19 1.581 6,199 131 15 2.052 -0.471
BankofCommunications 20 1.546 6,059 103 23 1.343 0.203
TOTAL 100% 391,973 832 100%
AsiaBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
BankofChina 1 4.540 62,706 486 3 3.128 1.412
CITICSecurities 2 4.247 58,671 375 2 3.264 0.983
ChinaSecurities 3 3.770 52,077 455 7 2.782 0.988
Industrial&CommBankofChina 4 3.465 47,864 369 5 3.048 0.417
MizuhoFinancial 5 3.096 42,770 678 6 2.930 0.166
MorganStanley 6 2.944 40,667 545 1 4.001 -1.057
ChinaConstructionBank 7 2.751 38,007 381 9 2.538 0.213
AgriculturalBankofChina 8 2.407 33,255 251 17 1.857 0.550
HSBC 9 2.347 32,426 401 8 2.585 -0.238
SumitomoMitsuiFinancial 10 2.324 32,097 507 12 2.189 0.135
Citi 11 2.298 31,741 284 4 3.110 -0.812
ChinaInternationalCapitalCorp 12 2.257 31,180 229 13 2.048 0.209
Nomura 13 2.238 30,920 526 10 2.438 -0.200
ChinaMerchantsBank 14 2.182 30,143 296 23 1.534 0.648
HaitongSecurities 15 2.041 28,198 336 16 1.921 0.120
IndustrialBank 16 2.002 27,659 305 20 1.633 0.369
GuotaiJunanSecurities 17 1.828 25,250 286 11 2.425 -0.597
BankofCommunications 18 1.786 24,664 270 29 1.271 0.515
DaiwaSecurities 19 1.785 24,658 493 15 1.969 -0.184
ShanghaiPudongDevelopmentBank 20 1.739 24,025 273 24 1.484 0.255
TOTAL 100% 1,381,335 7,381 100%
Asiaex-JapanBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
BankofChina 1 5.358 62,661 484 2 3.769 1.589
CITICSecurities 2 5.015 58,651 374 1 3.933 1.082
ChinaSecurities 3 4.453 52,077 455 4 3.352 1.101
Industrial&CommBankofChina 4 4.089 47,818 367 3 3.673 0.416
ChinaConstructionBank 5 3.250 38,007 381 5 3.058 0.192
AgriculturalBankofChina 6 2.843 33,255 251 11 2.237 0.606
ChinaInternationalCapitalCorp 7 2.666 31,180 229 9 2.468 0.198
ChinaMerchantsBank 8 2.577 30,143 296 15 1.848 0.729
HSBC 9 2.567 30,016 384 7 2.914 -0.347
HaitongSecurities 10 2.411 28,198 336 10 2.315 0.096
IndustrialBank 11 2.365 27,659 305 13 1.967 0.398
GuotaiJunanSecurities 12 2.159 25,250 286 6 2.922 -0.763
BankofCommunications 13 2.109 24,664 270 19 1.532 0.577
ShanghaiPudongDevelopmentBank 14 2.052 24,000 272 16 1.788 0.264
Citi 15 1.933 22,604 230 8 2.790 -0.857
ChinaDevelopmentBank 16 1.916 22,413 158 21 1.477 0.439
ChinaMerchantsSecurities 17 1.910 22,337 138 14 1.874 0.036
ChinaCiticBank 18 1.718 20,090 252 17 1.582 0.136
StandardCharteredBank 19 1.640 19,185 280 12 2.169 -0.529
ChinaMinshengBankingCorp 20 1.593 18,628 238 27 1.187 0.406
TOTAL 100% 1,169,510 6,317 100%
ASEANLocalCurrencyBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
CIMB 1 10.060 7,714 256 1 13.798 -3.738
DBSGroup 2 8.136 6,239 136 3 7.562 0.574
Maybank 3 6.302 4,833 204 2 8.941 -2.639
AmInvestmentBankBhd 4 6.149 4,715 135 5 4.799 1.350
KasikornbankPCL 5 6.026 4,621 134 7 4.477 1.549
RHB 6 5.099 3,910 175 9 4.270 0.829
BankofAyudhyaPCL 7 4.796 3,678 63 11 4.146 0.650
Oversea-ChineseBankingCorp 8 4.455 3,416 75 6 4.647 -0.192
StandardCharteredBank 9 4.315 3,309 54 13 2.248 2.067
SiamCommercialBankPCL 10 4.184 3,209 72 10 4.205 -0.021
UnitedOverseasBank 11 4.119 3,159 78 12 2.662 1.457
BangkokBankPCL 12 3.878 2,973 101 8 4.294 -0.416
KrungThaiBank 13 3.675 2,818 86 4 5.234 -1.559
HSBC 14 3.089 2,369 34 14 2.148 0.941
ThanachartCapitalPCL 15 1.893 1,452 31 30 0.693 1.200
PhatraSecuritiesPCL 16 1.863 1,429 42 22 1.016 0.847
AffinHwangCapital 17 1.567 1,201 53 20 1.367 0.200
ChinaBankingCorp 18 1.527 1,171 22 26 0.829 0.698
IndoPremierSecurities 19 1.446 1,108 147 16 1.866 -0.420
PublicBankBerhad 20 1.286 986 12 21 1.020 0.266
TOTAL 100% 76,683 1,173 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page19
Australia/NewZealandInternationalBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
Citi 1 8.736 5,238 31 2 10.352 -1.616
JPMorgan 2 8.598 5,155 31 1 11.457 -2.859
HSBC 3 8.572 5,139 27 3 9.246 -0.674
BNPParibas 4 6.712 4,024 20 14 3.037 3.675
GoldmanSachs 5 6.318 3,788 15 13 3.141 3.177
BankofAmericaMerrillLynch 6 5.643 3,384 22 4 7.965 -2.322
WestpacBanking 7 5.472 3,281 17 12 3.240 2.232
CommonwealthBankAustralia 8 4.550 2,728 15 11 3.690 0.860
CreditSuisse 9 4.493 2,694 20 16 2.388 2.105
NationalAustraliaBank 10 4.056 2,432 14 7 4.772 -0.716
UBS 11 4.017 2,408 13 9 3.805 0.212
ANZBankingGroup 12 3.954 2,371 14 8 4.050 -0.096
DeutscheBank 13 3.891 2,333 11 15 2.389 1.502
MorganStanley 14 3.799 2,278 14 5 6.427 -2.628
RBCCapitalMarkets 15 3.204 1,921 12 6 5.112 -1.908
Nomura 16 2.393 1,435 7 18 1.951 0.442
TDSecurities 17 2.208 1,324 7 19 1.840 0.368
SumitomoMitsuiFinancial 18 1.654 992 8 21 0.923 0.731
Barclays 19 1.397 838 5 17 2.077 -0.680
MizuhoFinancial 20 1.202 721 5 20 1.224 -0.022
TOTAL 100% 59,956 120 100%
AustraliaKangarooBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(AUDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
TDSecurities 1 19.947 6,199 83 1 15.916 4.031
Nomura 2 10.542 3,276 46 3 11.797 -1.255
RBCCapitalMarkets 3 9.927 3,085 47 5 11.386 -1.459
ANZBankingGroup 4 8.672 2,695 30 4 11.761 -3.089
DeutscheBank 5 7.194 2,236 31 2 12.284 -5.090
MizuhoFinancial 6 6.872 2,136 23 8 4.012 2.860
CommonwealthBankAustralia 7 6.193 1,925 24 13 2.317 3.876
JPMorgan 8 5.489 1,706 17 6 8.543 -3.054
NationalAustraliaBank 9 5.190 1,613 21 7 4.960 0.230
UBS 10 4.170 1,296 11 14 2.246 1.924
WestpacBanking 11 3.047 947 14 11 2.721 0.326
DaiwaSecurities 12 2.553 793 12 9 3.072 -0.519
Citi 13 2.381 740 11 12 2.541 -0.160
HSBC 14 2.333 725 8 10 2.938 -0.605
BMOCapitalMarkets 15 1.247 388 3 18 0.468 0.779
BankofAmericaMerrillLynch 16 1.207 375 4 20 0.146 1.061
BNPParibas 17 0.967 300 4 - - 0.967
DBSGroup 18 0.603 188 1 17 0.526 0.077
Natixis 19 0.599 186 2 - - 0.599
GoldmanSachs 20 0.287 89 3 15 1.413 -1.126
TOTAL 100% 31,076 203 100%
SouthKoreaInternationalBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
HSBC 1 12.960 4,489 48 2 8.568 4.392
Citi 2 8.977 3,109 32 1 11.709 -2.732
BNPParibas 3 8.500 2,944 27 5 7.092 1.408
UBS 4 8.147 2,822 18 8 5.536 2.611
CreditAgricoleCIB 5 7.650 2,650 26 4 7.135 0.515
SocieteGenerale 6 7.383 2,557 28 11 4.038 3.345
BankofAmericaMerrillLynch 7 7.236 2,506 23 3 7.931 -0.695
JPMorgan 8 5.923 2,052 25 7 5.734 0.189
StandardCharteredBank 9 4.008 1,388 15 6 7.005 -2.997
MizuhoFinancial 10 3.876 1,343 16 23 0.962 2.914
Nomura 11 2.786 965 7 9 4.645 -1.859
KoreaDevelopmentBank 12 2.767 958 10 15 1.828 0.939
ANZBankingGroup 13 2.699 935 7 14 1.924 0.775
INGGroep 14 2.120 734 6 17 1.516 0.604
MorganStanley 15 2.098 727 7 19 1.294 0.804
DaiwaSecurities 16 2.033 704 7 18 1.441 0.592
CreditSuisse 17 1.863 645 6 25 0.914 0.949
Commerzbank 18 1.665 577 7 16 1.720 -0.055
DeutscheBank 19 1.627 563 3 13 2.121 -0.494
TDSecurities 20 1.130 391 5 21 1.057 0.073
TOTAL 100% 34,638 161 100%
JapaneseYenBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(JPYMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
MizuhoFinancial 1 22.123 3,792,358 574 1 21.367 0.756
Nomura 2 18.616 3,191,145 520 3 17.561 1.055
SumitomoMitsuiFinancial 3 18.295 3,136,173 520 4 17.212 1.083
MorganStanley 4 15.545 2,664,743 428 2 20.229 -4.684
DaiwaSecurities 5 15.432 2,645,370 490 5 14.383 1.049
ShinkinCentralBank 6 1.327 227,483 45 7 1.409 -0.082
JPMorgan 7 1.243 213,097 16 16 0.272 0.971
GoldmanSachs 8 0.981 168,231 25 6 1.457 -0.476
BankofAmericaMerrillLynch 9 0.760 130,333 16 8 1.048 -0.288
SBIHoldingsInc/Japan 10 0.708 121,283 10 12 0.546 0.162
TokaiTokyoSecuritiesCoLtd 11 0.639 109,583 32 10 0.736 -0.097
BNPParibas 12 0.561 96,133 14 18 0.196 0.365
OkasanSecuritiesGroupInc 13 0.427 73,250 22 14 0.326 0.101
MitsubishiUFJFinancialGroupInc 14 0.427 73,187 16 9 0.818 -0.391
Citi 15 0.425 72,833 14 11 0.623 -0.198
SocieteGenerale 16 0.343 58,800 12 21 0.116 0.227
HSBC 17 0.321 55,000 5 15 0.276 0.045
Natixis 18 0.306 52,520 13 17 0.239 0.067
Barclays 19 0.275 47,170 8 26 0.036 0.239
CreditAgricoleCIB 20 0.221 37,883 10 13 0.449 -0.228
TOTAL 100% 17,142,274 1,021 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page20
HongKongDollarBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(HKDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
HSBC 1 22.613 67,716 156 1 23.170 -0.557
BankofCommunications 2 14.485 43,375 31 23 0.827 13.658
StandardCharteredBank 3 12.068 36,137 81 2 14.047 -1.979
MizuhoFinancial 4 7.416 22,208 52 6 4.600 2.816
CreditAgricoleCIB 5 6.801 20,365 58 4 5.703 1.098
Citi 6 5.632 16,864 46 3 8.811 -3.179
Scotiabank 7 4.688 14,037 46 9 3.127 1.561
BankofChina 8 3.616 10,827 16 8 3.747 -0.131
SocieteGenerale 9 3.490 10,450 24 11 2.481 1.009
UBS 10 2.451 7,340 12 27 0.450 2.001
Industrial&CommBankofChina 11 2.058 6,162 4 37 0.044 2.014
ANZBankingGroup 12 1.889 5,657 17 14 1.853 0.036
CommonwealthBankAustralia 13 1.534 4,594 16 5 5.152 -3.618
JPMorgan 14 1.490 4,462 8 22 0.877 0.613
BNPParibas 15 1.441 4,317 19 24 0.727 0.714
DBSGroup 16 1.034 3,097 7 13 2.074 -1.040
DaiwaSecurities 17 0.990 2,965 8 20 1.000 -0.010
Nomura 18 0.875 2,621 14 10 2.954 -2.079
Barclays 19 0.874 2,617 12 16 1.368 -0.494
ChinaConstructionBank 20 0.548 1,640 8 15 1.598 -1.050
TOTAL 100% 299,452 633 100%
SingaporeBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(SGDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
DBSGroup 1 41.927 7,593 38 1 38.391 3.536
Oversea-ChineseBankingCorp 2 20.986 3,801 25 2 25.388 -4.402
UnitedOverseasBank 3 16.777 3,038 18 4 8.941 7.836
StandardCharteredBank 4 8.690 1,574 8 3 8.951 -0.261
HSBC 5 5.430 983 9 5 8.320 -2.890
CreditSuisse 6 2.462 446 3 6 2.326 0.136
CIMB 7 1.705 309 3 8 1.365 0.340
Maybank 8 1.546 280 2 14 0.199 1.347
HLBank/Singapore 9 0.387 70 1 - - 0.387
HaitongSecurities 10 0.092 17 1 - - 0.092
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
TOTAL 100% 18,110 60 100%
OffshoreCNYBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(CNYMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
HSBC 1 23.377 29,698 89 1 28.416 -5.039
StandardCharteredBank 2 19.572 24,864 63 3 12.871 6.701
CreditAgricoleCIB 3 13.078 16,614 72 2 15.488 -2.410
BNPParibas 4 3.407 4,329 16 5 4.262 -0.855
ANZBankingGroup 5 3.294 4,184 12 31 0.253 3.041
DBSGroup 6 3.149 4,000 11 9 2.953 0.196
Scotiabank 7 2.901 3,685 15 8 3.048 -0.147
BankofChina 8 2.875 3,652 13 12 1.713 1.162
SocieteGenerale 9 2.873 3,650 6 13 1.455 1.418
Citi 10 2.319 2,947 9 17 1.012 1.307
MizuhoFinancial 11 2.047 2,600 14 6 3.615 -1.568
JPMorgan 12 1.951 2,479 11 10 2.343 -0.392
KGISecurities 13 1.635 2,078 4 27 0.379 1.256
PingAnInsuranceGroup 14 1.496 1,900 1 - - 1.496
GoldmanSachs 15 1.318 1,675 3 24 0.443 0.875
DeutscheBank 16 1.051 1,335 6 15 1.306 -0.255
TDSecurities 17 0.934 1,187 7 21 0.759 0.175
Nomura 18 0.897 1,139 6 4 5.073 -4.176
NatWestMarkets 19 0.815 1,035 4 - - 0.815
Barclays 20 0.748 950 3 7 3.610 -2.862
TOTAL 100% 127,039 356 100%
OffshoreChinaBondsFY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
BankofChina 1 6.688 11,052 199 1 7.452 -0.764
HSBC 2 5.853 9,672 168 2 6.031 -0.178
BankofCommunications 3 3.762 6,217 101 11 2.983 0.779
StandardCharteredBank 4 3.670 6,065 113 3 4.382 -0.712
Industrial&CommBankofChina 5 3.669 6,063 127 4 4.084 -0.415
HaitongSecurities 6 3.627 5,995 117 8 3.594 0.033
GoldmanSachs 7 3.540 5,849 61 10 3.226 0.314
ChinaCiticBank 8 2.956 4,884 96 16 2.557 0.399
GuotaiJunanSecurities 9 2.788 4,608 111 24 1.573 1.215
JPMorgan 10 2.601 4,298 51 12 2.931 -0.330
CreditSuisse 11 2.544 4,205 51 9 3.270 -0.726
ChinaEverbrightBank 12 2.507 4,143 95 33 0.935 1.572
IndustrialBank 13 2.491 4,117 81 29 1.302 1.189
ChinaConstructionBank 14 2.425 4,007 93 6 3.726 -1.301
UBS 15 2.406 3,976 67 15 2.589 -0.183
MizuhoFinancial 16 2.367 3,911 72 30 1.143 1.224
BNPParibas 17 2.306 3,810 65 18 2.359 -0.053
MorganStanley 18 2.265 3,743 64 5 3.939 -1.674
Citi 19 2.233 3,691 70 7 3.721 -1.488
CreditAgricoleCIB 20 2.156 3,563 53 21 1.713 0.443
TOTAL 100% 165,253 439 100%
Bloomberg PreliminaryGlobalFixedIncome|FY2018
BloombergLeagueTableReports Page21
UridashiBonds(Manager)FY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
Nomura 1 21.192 3,140 63 2 17.097 4.095
SumitomoMitsuiFinancial 2 19.708 2,920 42 1 17.156 2.552
MizuhoFinancial 3 16.911 2,506 51 4 15.969 0.942
MitsubishiUFJFinancialGroupInc 4 14.268 2,114 27 3 16.436 -2.168
BNPParibas 5 6.047 896 99 6 5.057 0.990
DaiwaSecurities 6 5.094 755 30 7 4.743 0.351
HSBC 7 4.917 729 95 5 6.657 -1.740
CreditSuisse 8 2.997 444 59 8 4.087 -1.090
TokaiTokyoSecuritiesCoLtd 9 2.422 359 43 9 3.690 -1.268
CreditAgricoleCIB 10 1.683 249 35 10 2.665 -0.982
SBIHoldingsInc/Japan 11 1.502 222 19 12 0.878 0.624
MorganStanley 12 1.227 182 25 11 2.130 -0.903
Natixis 13 0.546 81 7 14 0.866 -0.320
Barclays 14 0.524 78 21 15 0.517 0.007
SocieteGenerale 15 0.365 54 5 18 0.176 0.189
DeutscheBank 16 0.213 32 13 13 0.867 -0.654
ShinseiBankLtd 17 0.205 30 5 20 0.089 0.116
JPMorgan 18 0.098 15 2 17 0.226 -0.128
MunicipalityFinancePLC 19 0.060 9 2 - - 0.060
GoldmanSachs 20 0.021 3 2 16 0.511 -0.490
TOTAL 100% 14,816 627 100%
UridashiBonds(UridashiAgent)FY2018 FY2017
Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)
ChugokuBankLtd 1 23.371 6,947 51 15 1.815 21.556
SumitomoMitsuiFinancial 2 8.866 2,635 36 2 11.223 -2.357
TokaiTokyoSecuritiesCoLtd 3 8.504 2,528 198 4 8.840 -0.336
Nomura 4 8.144 2,421 40 5 8.619 -0.475
MizuhoFinancial 5 6.867 2,041 48 3 10.841 -3.974
MorganStanley 6 5.406 1,607 110 1 15.118 -9.712
HyakugoSecurities 7 4.781 1,421 90 9 3.305 1.476
OkasanSecuritiesGroupInc 8 4.282 1,273 144 7 4.271 0.011
DaiwaSecurities 9 3.619 1,076 53 6 5.046 -1.427
HachijuniBankLtd 10 2.920 868 46 8 3.983 -1.063
SBIHoldingsInc/Japan 11 2.256 670 110 14 2.024 0.232
77BankLtd 12 2.152 640 62 10 2.872 -0.720
ShizuginTMSecuritiesCo 13 2.058 612 44 11 2.702 -0.644
IyoBank 14 2.024 602 58 17 1.741 0.283
JoyoBankLtd 15 1.625 483 37 21 0.862 0.763
HiroginSecuritiesCoLtd 16 1.556 463 53 19 1.245 0.311
DaishiSecuritiesCoLtd 17 1.528 454 51 13 2.287 -0.759
KyoginSecuritiesCoLtd 18 1.289 383 40 18 1.345 -0.056
AozoraBankLtd 19 1.242 369 37 12 2.504 -1.262
GunginSecuritiesCoLtd 20 1.061 315 36 22 0.842 0.219
TOTAL 100% 29,723 1,123 100%
Bloomberg Fixed Income - League Tables Criteria
Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service.
General Guidelines
Credit is based on the total amount of the offering. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers; unless a full, explicit breakdown of bookrunning is provided by an involved party.
Issues are credited based on principal value in all instances except for deep discount bonds (priced 80% or lower). Deep discounted issues are credited based on the proceeds amount. The proceeds are equal to the face amount multiplied by the issue price.
Regional and local tables are identified based on factors such as currency, market of issue, market of syndication and/or country of risk. To view the criteria for a particular table – click on the information symbol to the right of the table heading.
All transaction must have a maturity or a call/put option of minimum 18 month. Make-whole calls, provisional calls/puts are exempt from this rule. Increases and fungible securities are also subject to the 18 month minimum period. Note: criteria may vary for some local and/or regional tables.
USD denominated 144A/REG S issues are credited 100% to the 144A tranche and 0% to the REG S tranche. Non-USD denominated 144A/REG S issues are credited 100% to the REG S tranche and 0% to the 144A tranche.
New money portions of exchange offers are eligible for credit.
Investment grade and high yield transactions are based on official, expected, and provisional ratings by Fitch, Moody’s and S&P. Note: Criteria may vary for some local and/or regional table. When rating is split, transaction will appear in the relevant high yield table.
Self-led transactions are included.
Exclusions
Accredited investor tranches, asset-backed issues, auction note agencies, collateralized bond obligations, collateralized loan obligations, commercial paper, municipal bonds, mortgage-backed issues, remarketed issues, repackaged bonds, government borrowing scheme retained bonds, variable principal redemption issues, variable interest equity-linked issues, and credit linked notes, selling group agency issues, strips, units, warrants, self-led under USD 50 million. Note: criteria may vary for some local and/or regi