The market share of Asian banks arranging corporate bonds for European and US companies has risen to an all-time high, in a sign of the growing power of eastern financial institutions on global capital markets.
Banks, mainly based in China and Japan, have more than doubled market share of corporate debt activity in the US and Europe over the past year with the total value of deals hitting an unprecedented $40bn in 2012, according to Dealogic data.
This comes as many of the largest western investment banks have shrunk debt operations to comply with tougher regulation, also reflecting a weak trading environment.
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