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Deutsche Bank enjoyed another strong year in debt capital markets in 2010 as it continued to recover from the setback of heavy losses in credit trading at the end of 2008. At that point it had fallen to fourth in the annual league table of global debt capital market bookrunners, having led that ranking in 2007. It was fifth in 2009. For 2010 it is back to third, behind JPMorgan and Barclays.