Citigroup Global Markets has reclaimed its lead in the U.S. ABS league tables, according to preliminary data maintained by Thomson Financial, outpacing its competitors by almost a two-to-one margin in the third quarter. The $32.6 billion of primary ABS supply Citigroup underwrote in the third quarter pushed its year-to-date total to $68.6 billion, giving it more than 11% of the market, and putting it $13 billion ahead of its closest competitor. In the first three months of 2003, Citigroup had sold $47 billion of new-issue supply.
Countrywide Securities, which raced to a surprising midyear lead, dropped to second place overall, with $55.4 billion sold to date and a 9% market share. In the third quarter Countrywide sold $15.7 billion, down from the nearly $23 billion it placed in 2Q04 and the $16.7 billion sold in 1Q04. Countrywide has nearly tripled