Goldman Sachs has taken the crown for the third consecutive month with its main rival J.P. Morgan failing to keep up.
In April, the US structured notes market booked a total of US$15.1 billion in traded notional from 5,051 issuances, approximately 20% of which came from the paper of Goldman Sachs. The overall market took a downturn from March and accounted for only 27% of the total Q1 sales. Year-on-year (YoY) the April volume ticked up 26%, SRP data shows. Those issues are specific to structured notes and do not include non-directional (callable) fixed rate notes. US: structured notes sales by month (US$m)