Wall Street shows little sign of relinquishing its grip on Europe's investment banking industry – but in the region's debt capital markets at least, domestic advisers are standing their ground.

Analysis of preliminary Dealogic data for the first nine months of 2016 shows that European debt issuance has nudged up year-on-year from $1.47 trillion to $1.55 trillion. Globally, $5 trillion of issuance as of September 22 is on track to finish the year at a record high if it passes the $6.62 trillion issued in 2006.