Thomson’s End-of-year Fixed Income Statistics
Thomson Financial released year-end statistics for U.S. bond issuance and the year’s top underwriters. U.S. asset-backed issuance dropped to $863.6bln from $1.249trln. U.S. high-grade corporate debt issuance rose to a record $978bln from a level of $935bln in 2006. Furthermore, U.S. high-yield debt issuance fell to $136bln from $146bln in 2006. Thomson is also reporting federal agencies issued $820bln worth of debt in 2007, a rise from the 2006 figure of $686.2bln. Finally, U.S. mortgage bond debt issuance dropped off to $922.1bln in 2007 from $1.052trln in 2006. Citigroup was dubbed the top asset-backed securities lead underwriter, the top global debt/equity underwriter, and top high-grade corporate bond underwriter for 2007. JPMorgan held on to its spot as top underwriter for federal agency debt issuance in 2007 and picked up the title for top high-yield bond underwriter in 2007. Lehman Brothers emerged as the top U.S. mortgage bond underwriter of 2007 as well. Merrill Lynch took the title of top global underwriter in 2007 in terms of disclosed fees.