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Country risk index

Country risk index

Bi-annual survey monitoring political and economic stability of 185 sovereign countries

FX debate

FX debate

Testing times in the search for alpha

May 2008

Fixed income research poll: Other products and markets





A time to shine for credit research
Ups and downs in 2008
The departed
Fixed income research poll results
Investment grade overall High yield overall
Investment grade by sector High yield by sector
Other products and markets Trade ideas Overall (sum of parts version)
Trade ideas - Structured credit Trade ideas - Investment grade
Trade ideas - High yield Trade ideas - ABS
Trade ideas - Other products and markets Trade ideas - Overall (asked outright as a question)
Methodology

Categories exclusive to euromoney.com:
Further breakdowns including rankings by region, institution type and asset size.

Credit derivatives
’08 ’07 Team Score
1 2 Société Générale – Julien Turc, Guy Stear 14.22%
2 1 JPMorgan – Jonny Goulden, Yasemin Saltuk, Saul Doctor & team 11.69%
3 3 Citi – Matt King, Michael Hampden-Turner, Panikos Teklos 11.09%
4 4 Morgan Stanley – Sivan Mahadevan, Andrew Sheets & team 9.97%
5 5 Deutsche Bank – Jean-Paul Calamaro & team 9.47%
Asset backed
’08 ’07 Team Score
1 6 RBS – Ron Thompson, Siobhan Pettit, Phil Adams, Michael Cox & teams 14.24%
2 3 Lehman Brothers – Krishna Prasad, Dave Covey & team 10.98%
3 2 Deutsche Bank – Ganesh Rajendra & team 9.73%
4 4 Barclays Capital – Hans Vrensen, Matthew Leeming & teams 9.65%
5 1 Merrill Lynch – Alexander Batchvarov, Altynay Davletova, James Martin, Flavio Rusconi, Nicolas Gakwaya 8.85%
Covered bonds / pfandbriefe
’08 ’07 Team Score
1 2 Dresdner Kleinwort – Ted Packmohr, Annegret Hasler 17.39%
2 1 UniCredit (HVB) – Franz Rudolf, Florian Hillenbrand, Christian Meidinger 13.37%
3 5 Deutsche Bank – Bernd Volk 12.64%
4 3 Barclays Capital – Fritz Engelhard, Leef Dierks 11.36%
5 4 Société Générale – Jose Sarafana, Vincent Chaigneau 8.03%
Index and portfolio analytics
’08 ’07 Team Score
1 1 Lehman Brothers – Lee Phillips, Albert DesclÈe & team 17.71%
2 3 JPMorgan – Jonny Goulden, Yasemin Saltuk, Saul Doctor & team 11.09%
3= 4 Merrill Lynch – Phil Galdi, Caroline Harrison, Alberto Ruiz-Sena 8.56%
3= 10 Barclays Capital – Waqas Samad & team 8.56%
5 8 BNP Paribas – Vivek Tawadey, Mehernosh Engineer, Rajeev Shah, Andrea Cicione, Daniela Sozzi 7.97%
Quantitative credit research and modelling
’08 ’07 Team Score
1 1 Société Générale – J.Turc, D.Benhamou, B.Herzog, M.Teyssier, S.Chapelon 20.27%
2 2 JPMorgan – Jonny Goulden, Yasemin Saltuk, Saul Doctor & team 10.93%
3 3 Citi – Matt King & team 8.98%
4 10 Morgan Stanley – Sivan Mahadevan, Vishy Tirupattur & team 8.86%
5 6 Lehman Brothers – Lutz Schloegl & team 8.75%
European emerging market corporates
’08 ’07 Team Score
1 4 JPMorgan – Victoria Miles, Allison Bellows Tiernan & team 14.65%
2 1 Dresdner Kleinwort – Eugene Popov, Vladlen Andryuschenko, Natalia Corfield, Arnab Das & team 13.29%
3 2 UBS – Kathleen Middlemiss, Viacheslav Shilin 10.61%
4 9 Deutsche Bank – Richard Phelan & team 9.23%
5 10 Merrill Lynch – David Lewis, Tala Boulos 7.89%
European emerging markets strategy
’08 ’07 Team Score
1 3 Deutsche Bank – Marc Balston, Angus Halkett, Arend Kapteyn 15.84%
2 8 Credit Suisse – Kasper Bartholdy, Berna Bayazitoglu & team 11.54%
3 2 JPMorgan – Joyce Chang, William Oswald & team 11.21%
4 1 Dresdner Kleinwort – Arnab Das, Jon Harrison & team 10.51%
5 4 UniCredit (HVB) – Martin Blum & team 9.40%
European emerging market sovereigns research
’08 ’07 Team Score
1 4 Deutsche Bank – Kapteyn, Aksoy, Biggs, Edgeworth, Grady, Lissovolik 14.04%
2 1 JPMorgan – Joyce Chang, Michael Marrese & team 13.25%
3 2 Dresdner Kleinwort – Arnab Das, Neil Dougall & team 11.36%
4 8= Credit Suisse – Kasper Bartholdy, Berna Bayazitoglu & team 9.70%
5 3 UniCredit (HVB) – Martin Blum & team 7.70%
Western European sovereign and supranational
’08 ’07 Team Score
1 2 Dresdner Kleinwort – Daniel Pfaendler & team 12.34%
2 3 Deutsche Bank – Ralf Preusser 11.49%
3 5 Barclays Capital – George Johnston, Huw Worthington, Cagdas Aksu 11.01%
4 1 Société Générale – Vincent Chaigneau & team 9.31%
5 6 HSBC – Steven Major, André de Silva 7.89%
Western European sub-sovereigns and agencies
’08 ’07 Team Score
1 6 Barclays Capital – George Johnston, Huw Worthington, Cagdas Aksu 14.96%
2 2 Dresdner Kleinwort – Daniel Pfaendler & team 11.64%
3 3 Deutsche Bank – Bernd Volk 11.08%
4 7 RBS – Frank Will 10.67%
5 4 Société Générale – Vincent Chaigneau & team 9.49%
Corporate/financial hybrids
’08 ’07 Team Score
1 1 JPMorgan – Olek Keenan, Tom Gibney 16.66%
2 6 RBS – James Sparrow and Corrine Cunningham 14.05%
3 7 UniCredit (HVB) – Global Credit Research Team 10.00%
4 4 BNP Paribas – Vivek Tawadey, Mehernosh Engineer, Rajeev Shah, Andrea Cicione, Daniela Sozzi 9.73%
5 2 Société Générale – Benoit Hubaud, Denis Groven & team 9.45%
Electronic platforms
2008 2007 Team Score
1 1 UBS - UBS Delta - Julie Chakraverty 16.56%
2 2 Lehman Brothers - Lutz Schloegl & Team 15.62%
3 3 JPMorgan - JPMorgan, MorganMarkets 15.58%
4 4 Deutsche Bank - QuantEM, Marc Balston, Jed Evans 12.92%
5 5 Société Générale - Benoit Hubaud, Denis Groven & Team 7.61%


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