League table worries rising?

The Financial Times notes that banks are "currently preparing for the half-year league tables of their performance." And to hear some talk about it, some banks are doing what it takes to preserve their spot in the rankings.

Viswas Raghavan, head of international capital markets at JPMorgan Chase, tells the paper: "A lot of banks are looking to do deals at irresponsible prices. We are finding some banks with market-share losses are offering to do deals for a pittance." JPMorgan is letting it be known that it has increased its share of some investment banking markets despite a refusal to cut prices. All in all, the numbers might be pretty good in some quarters. Equity issuance has been strong. 

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