JPMorgan Clocks Busiest Ever Month Managing Europe Bond Deluge
- Firm managed 65 billion euros of sales in month to April 21
- Italy, Spain and Portugal among nations borrowing via banks
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The government bond underwriting team at JPMorgan Chase & Co. just saw a record month handling a flood of European issuance as the region seeks to borrow its way out of the pandemic.
In the month to April 21 the U.S. bank lead-managed 65 billion euros ($70 billion) in 10 issues, the most ever for a five-week period, according to Keith Price, who heads the firm’s primary sovereign, supranational and agency markets. Year-to-date it remains the most-active underwriter of European government bond sales with a market share of almost 13%, according to data compiled by Bloomberg.