Results
The trio of banks that sit atop Euromoney’s debt poll of polls are the same as last year’s: Deutsche Bank, Goldman Sachs and JPMorgan. However, Deutsche and JPMorgan have swapped positions, the US bank has edged its European competitor out of the top slot and moved forward in all of the four broad underlying areas of activity that the poll of polls measures. During the year, Euromoney analyses debt market activity with borrowers, investors and structured credit – and reconstitutes these into primary markets, secondary markets, investment-grade markets and advisory services.
JPMorgan has moved forward in all four areas. It is not at the top of new-issue league tables but that does not stop it from dominating the primary markets. Meanwhile JPMorgan remains a top liquidity provider to investors.
The big mover was Citi – it dropped somewhat precipitously from fifth to 10th – although the size of the fall in terms of points scored was modest.