Securities underwriting posts a 33% drop for Q2

07/1/2010 | Wall Street Journal, The

Stock and bond sales by investment banks totaled $1.36 trillion in the second quarter, a 33% decline compared with the same period last year. The amount is the lowest quarterly total since late 2008, according to Dealogic. JPMorgan Chase retained its No. 1 position among underwriters, with more than $245 billion in new issues in the first six months of 2010. Bank of America Merrill Lynch and Barclays Capital round out the top three.

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Wall Street Journal, The

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