Institutional Investor’s first annual Global Fixed-Income Research Team brings together the best fixed-income research providers for developed and emerging markets across the U.S., Latin America, Asia, Europe, the Middle East, and Africa.

About 3,600 bond and credit specialists from 1,200 asset managers weighed in to determine the top research providers in each region — and the best firms globally.

Bank of America Merrill Lynch debuted at the top of the inaugural global leaderboard, with its fixed-income analysts collecting a total of 102 team positions across the six regions and more than 100 macroeconomic and credit sectors included in the survey. JPMorgan Chase & Co. followed close behind in second place, with 98 team positions. Citigroup placed third.