Competition for debt mandates is heating up as banks jostle for business at the start of a year when fixed-income pickings are expected to be slim. Unlikely names are setting the pace after the first three weeks, while banks that previously dominated are stuck in the slow lane.
The euro-denominated international bond market has shrugged off fears of a supply slump, with issuance reaching €77.5bn ($100.3bn) by January 19 â €2bn less than at the same time last year.
