Out of the far turn and into the home stretch, it seems as though JPMorgan Securities is leading the underwriter rankings for the U.S. ABS market, according to preliminary data from Thomson Financial. With just over $33 billion of public and 144A (excluding CDOs) JPMorgan is roughly $1 billion ahead of second-place Salomon Smith Barney, which had sold $32 billion of ABS through the middle of last week.
Close behind Salomon is Credit Suisse First Boston, with $31 billion of ABS supply placed with investors. Banc Of America Securities, which has sold $30 billion, is in fourth place. Then there is a $4 billion drop-off to fifth place Deutsche Bank Securities, with $26 billion of ABS sold in the first nine months of the year.