JPMorgan Chase & Co. has extended its winning streak as No. 1 in Institutional Investor’s All-America Fixed-Income Research Team ranking for an eighth straight year. 

Bank of America Corp. earned second place, while Wells Fargo & Co. took third and Barclays came in fourth, with each firm keeping the same position held in 2016. Citigroup, meanwhile, rose one level higher to fifth place and Goldman Sachs Group fell two places to six, after tying for fourth last year with Barclays. Rounding out the rankings are Morgan Stanley at No. 7, Deutsche Bank at No 8 in a tie with Nomura Holdings, and Stifel Financial Corp. in tenth place. 

To select members of the 26th annual All-America Fixed-Income Research Team, II sent questionnaires to bond and credit specialists at asset management firms around the world, receiving responses from more than 1,800 portfolio managers and buy-side analysts at 510 institutions. Voters ranked firms in three major categories: high yield, investment grade, and economics and strategy. While they were asked to vote for individual analysts in high yield and investment grade, they could vote for either an individual or a firm’s entire team in the economics and strategy category.