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The US treasury market reaches breaking point

The US treasury market reaches breaking point

The structural issue that could cause the world's market of last resort to grind to a halt

No. 6: If you don’t give it to me you’ll only lend it to someone else and look where that got us

August 2008

Interest rate derivatives poll: Euro





Interest rate derivatives poll
In association with Total Derivatives
Global Winners US Dollar
Euro Yen
Sterling Methodology


Place Bank % of vote
EUR swaps 2 to 10 years
Individual voting 70
1 Deutsche Bank 18.8
2 JPMorgan 14.3
3 Barclays Capital 10.5
4 Société Générale 8.1
5 Natixis 6.7
6 RBS/ABN 6.7
7 BNP Paribas 6.0
8 Calyon 4.5
9 HSBC 4.0
10 UBS 3.8
EUR swaps 10 to 50 years
Individual voting 49
1 Deutsche Bank 21.8
2 Barclays Capital 11.9
3 JPMorgan 11.6
4 HSBC 7.1
5 BNP Paribas 5.8
6 Calyon 5.8
7 Morgan Stanley 5.4
8 Natixis 4.4
9 Goldman Sachs 4.4
10 RBS/ABN 4.1
EUR inflation products
Individual voting 54
1 BNP Paribas 10.8
2 Barclays Capital 9.6
3 Deutsche Bank 9.3
4 JPMorgan 7.7
5 Goldman Sachs 7.7
6 RBS/ABN 7.4
7 Natixis 6.8
8 Calyon 6.2
9 Société Générale 6.2
10 HSBC 5.2
EUR vanilla options
Individual voting 57
1 JPMorgan 18.4
2 Deutsche Bank 12.3
3 Société Générale 9.4
4 Citi 7.6
5 Natixis 7.0
6 Calyon 7.0
7 Bank of America 6.1
8 Credit Suisse 4.1
9 BNP Paribas 4.1
10 HSBC 3.8
EUR exotic rates
Individual voting 51
1 BNP Paribas 19.3
2 Deutsche Bank 15.4
3 JPMorgan 12.4
4 Calyon 6.9
5 HSBC 6.5
6 Citi 5.9
7 Société Générale 5.2
8 Morgan Stanley 4.9
9 Barclays Capital 3.9
10 Lehman Brothers 3.9


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