JPMorgan Chase & Co. is tightening its grip on the globalcorporate bond market, taking share from Citigroup Inc. and Bank ofAmerica Corp. and topping all underwriters as companies sold arecord $1.17 trillion of debt.

The most profitable U.S. bank's underwrote 7.1 percent of allbond sales in the three months ended March 31, up from 6.5 percentin 2011, data compiled by Bloomberg show. Citigroup moved up twospots to second with 5.7 percent, the same amount it captured lastyear. Bank of America dropped to third with 5.6 percent, down from6.1 percent in 2011. Deutsche Bank AG, which dropped to fourth fromthird, handled 5.5, down from 5.9.

JPMorgan is leading banks reaping the benefits of a FederalReserve outlook that benchmark interest rates will hold near zerountil at least late 2014 and an easing in Europe's debt crisis thathas bolstered confidence that default rates will stay below thehistorical averages. Increased demand for higher-yielding assets isallowing companies from Australia to Amsterdam to borrow atrecord-low rates.