There’s no separating transatlantic rivals Barclays and JP Morgan at the summit of Europe’s fixed income market, according to consultants Greenwich Associates, with Citi in third.

In the consultancy's annual ranking of the biggest banks in European fixed-income trading, Barclays was helped by its "clear lead" in rates products - government bonds, agency securities and interest-rate derivatives - while JP Morgan has a "commanding" lead in credit products, such as investment-grade bonds and high-yield.