With a recent push, Credit Suisse First Boston has narrowed the gap in the year-to-date asset-backed underwriter league tables to within $892 million of Salomon Smith Barney, the tightest the race has been all year, according to Thomson Financial. While this does not signal a changing of the guard, if CSFB continues to press on, and Salomon continues to coast, it would be the first time any firm has wrestled away the top spot from Salomon in nearly two years.
Through last Thursday, market leader Salomon has placed $30.991 billion of ABS in the hands of investors, or 14.4% of the market. Credit Suisse has placed $29.699 billion, or 13.6% of the market. Together the two account for roughly 28%.