Government Bonds

Barclays Capital is one of the largest firms in terms of breadth of primary dealership and prominence. As an active primary dealer in government bond markets throughout Europe, we have access to the flow business which is a prerequisite for success in the interest rate market. Our pre-eminence as a dealer in government bond sectors has been recognised by virtually all major sovereign borrowers in Europe. In 2009 so far we have been lead or joint lead bookrunners on major sovereign issuances by France, Spain, Greece, Portugal, Ireland, Belgium, Denmark, Sweden and the UK, among others.

Barclays Capital was ranked No. 1 for primary market trading by the German Finance Agency for 2008, and No.1 overall by Portugal and Finland. We were ranked No. 2 overall by the French Treasury. Further, we are a Gilt Edged Market Maker (GEMM) for the UK Debt Management Office and are the largest dealers of UK Government Bonds with leadership in electronic execution.

 In the secondary government bond market, BARX is an unparalleled tool for providing liquidity and price transparency to clients. For 2008, we were the No.1 market maker on Bloomberg for US Treasuries and Gilts, and Top 3 for European Government Bonds, and were in the top quartile on Tradeweb for all three categories.

Our leadership position in the TIPS product is backed by our unparalleled global resources in inflation linked products. We have grown our Agency products business and are now one of the largest dealers across Treasuries, TIPS and Agencies. Barclays Capital is a leading liquidity provider on TradeWeb, Market Access and on our proprietary BARX platform for discount notes, bullet and callable securities. 

Barclays Capital has a strong presence in the government bond market in Asia Pacific, and has been a primary dealer in Japanese Government Bonds (JGB) since the inception of the Japanese government trading system. We are ranked within the top three foreign companies in JGB auctions and the inflation linked JGBs. Our capabilities span a full range of Japanese Government Bonds, especially in the areas of floaters, super long dates, CMTs and inflation linked where we are regarded as one of the market leaders