Citi has beaten off competition from rivals JP Morgan and Deutsche Bank to maintain its leadership at the top of the bond league tables in the first half of the year as credit markets remained resilient in the face of rising volatility.

According to preliminary figures from Thomson Financial, the financial data provider, Citi underwrote about $40bn (€30bn) more deals than JP Morgan and Deutsche Bank, which ranked second and third in the league table of global bond underwriters.