SOURCE: Institutional Investor

Institutional Investor

September 11, 2012 09:05 ET

J.P. Morgan Is Tops in U.S. Fixed-Income Research, Institutional Investor Survey Finds

Wells Fargo Securities Is Biggest Gainer in Magazine's Annual Ranking

NEW YORK, NY--(Marketwire - Sep 11, 2012) - J.P. Morgan leads the All-America Fixed-Income Research Team for a third year running, but Wells Fargo Securities is the only top-five firm to gain ground in Institutional Investor's annual ranking of the country's best sell-side fixed-income analysts.

Complete survey results can be found at

J.P. Morgan wins 51 total team positions, one fewer than last year but an even dozen more than Bank of America Merrill Lynch, which rises one rung to second place even though its team-position total is unchanged, at 39.

Bank of America's gain is attributable to Barclays's loss; the latter firm picks up six fewer positions this year -- 38 -- and in consequence slips to third place. Goldman, Sachs & Co. repeats at No. 4, with 23 spots (four fewer than last year), while Wells Fargo rises from sixth place to fifth after adding a whopping eight positions -- more gains than any other firm -- for a total of 20.

Survey results reflect the opinions of more than 1,800 asset managers and buy-side analysts at 550 institutions overseeing an estimated total of $9.7 trillion in U.S. fixed-income assets.

The past year has been especially difficult for fixed-income analysts and their clients, who must contend with the impact of slowing growth in China, the sovereign debt crisis in Europe and the upcoming fiscal cliff -- a year-end combination of spending cuts and tax hikes -- in the U.S.

"We are so intertwined with other parts of the world that investors are facing a number of significant macro issues that they might not have been as aware of in the past," says Lee Brading, head of credit research at Wells Fargo Securities in Charlotte, North Carolina. "It seems the only certainty these days is uncertainty."

Read more in the September Americas issue of Institutional Investor.

For information contact Alyssa Walker at or (212) 224-3677.

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