The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Fixed income research survey: The analysts the biggest funds rely on

As the sovereign debt crisis grinds on, the world’s top credit analysts are having to adapt to the needs of their firms’ biggest clients. Valentina Zarya reports.

"MY CONFIDENCE HAS been shot," jokes JPMorgan’s managing director and head of European credit research, Stephen Dulake, despite the fact that the world’s top 100 largest asset managers by AUM ranked Dulake and his team as number one for overall credit strategy in Euromoney’s revised take on its 2011 fixed-income research survey. With an end to the European sovereign debt crisis nowhere in sight and fears of market contagion growing day by day, even the best strategists are doubting their previously held beliefs. "We’ve been operating under the assumption that we live in a world where policymakers will muddle on through," Dulake says. "However, the muddle has grown exponentially and these assumptions are now being challenged." Investors around the world are growing wary of the EU’s ability to stabilize the European economy. "Markets are getting frustrated with this level of procrastination and the fact that we have yet to reach a sustainable equilibrium in Greece," says Dulake.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree