1997 Bond Trading Poll: Eurobonds

1997 Bond Trading Poll: The rise of the continentals

1997 Bond Trading Poll: The rise of the continentals

EUROBONDS – US DOLLAR
Fixed rate
1997 1996   Score
1 2 SBC Warburg 17
2 10 Union Bank of Switzerland 15
3 3 Merrill Lynch 14
4= – HSBC Markets 12
4= 5 Morgan Stanley 12
6 6 JP Morgan 8
7 7 PaineWebber 7
8= – ABN Amro Hoare Govett 5
8= – CIBC Wood Gundy 5
8= 4 Goldman Sachs 5
Floating rate
1997 1996   Score
1 1 PaineWebber 25
2 6 Merrill Lynch 22
3 2 SBC Warburg 17
4= 7= Lehman Brothers 9
4= 7= Morgan Stanley 9
6 3= JP Morgan 8
7 5 Union Bank of Switzerland 7
8= – ABN Amro Hoare Govett 5
8= 3= HSBC Markets 5
8= – Salomon Brothers 5
Convertibles
1997 1996   Score
1 2 Morgan Stanley 14
2 3= SBC Warburg 13
3 – Merrill Lynch 10
4 3= Credit Suisse First Boston 6
5= 1 Goldman Sachs 5
5= 3= Lehman Brothers 5
Asset-backed securities
1997 1996   Score
1 – Merrill Lynch 16
2= 4= Citibank 9
2= – Credit Suisse First Boston 9
2= 1 Goldman Sachs 9
2= 2= Morgan Stanley 9
6= 4= Lehman Brothers 5
6= – Salomon Brothers 5
Illiquid instruments
1997 1996   Score
1= – Morgan Stanley 9
1= – Union Bank of Switzerland 9
3 2 Merrill Lynch 8
4= – Lehman Brothers 7
4= – Credit Suisse First Boston 7
4= – SBC Warburg 7
Brady bonds
1997 1996   Score
1 – JP Morgan 22
2 – Chase 14
3 – Merrill Lynch 12
4 – ING Barings 10
5= – ABN Amro Hoare Govett 9
5= – Credit Suisse First Boston 9
EUROBONDS – OTHER CURRENCIES
Deutschmark
1997 1996   Score
1 1 Deutsche Morgan Grenfell 78
2 2 Dresdner Kleinwort Benson 26
3 4 Commerzbank 20
4 – Banque Paribas 9
5 – SBC Warburg 8
Yen
1997 1996   Score
1 1 Nomura Securities 24
2 3 Daiwa Securities 11
3 2 Industrial Bank of Japan 8
4 4 Nikko Securities 7
5= – Yamaichi Securities 5
5= – Merrill Lynch 5
Sterling
1997 1996   Score
1 1 BZW 43
2 – Hambros Bank 28
3 2 HSBC Markets 26
4 3= SBC Warburg 19
5 4 NatWest Markets 10
French franc
1997 1996   Score
1 1 Société Générale 31
2 4= Banque Nationale de Paris 29
3 2 Banque Paribas 23
4 – Caisse des Dépôts et Consignations 13
5 3 Crédit Commercial de France 10
Dutch guilder
1997 1996   Score
1 1 ABN Amro Hoare Govett 59
2 2 ING Barings 33
3 3= Rabobank 20
4 3= Deutsche Morgan Grenfell 5
Italian lira
1997 1996   Score
1 3= IMI 30
2 2 Istituto Bancario San Paolo di Torino 26
3 – Credito Italiano 19
4 – Banque Paribas 15
5 – Banca Commerciale Italiana 7
Swiss franc
1997 1996   Score
1 3 Credit Suisse First Boston 39
2 2 Union Bank of Switzerland 36
3 1 SBC Warburg 25
4 – Bank Sarasin 4
5 – Rüd Blass 3
Ecu (benchmarks)
1997 1996   Score
1 1 Banque Paribas 41
2 3 SBC Warburg 18
3 7= Morgan Stanley 13
4 7= Caisse des Dépôts et Consignations 11
5 2 Banque Nationale...

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