Press Releases
NEW YORK, Aug. 12, 2013 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for July 2013. The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity, suggests decreasing volume in global corporate and municipal bond issuance over the next 30-90 days.
CUSIP requests for new US corporate equity and debt issues posted a 29% decline in July, with just 1,603 new CUSIP IDs requested over the course of the month. This was the lowest monthly count of the year. A particularly low volume of requests for new debt identifiers drove the downward trend, with just 683 debt CUSIPs requested in July, a 44% decline from the previous month.
Municipal CUSIP requests declined to 918 new ID requests in July, the lowest monthly volume of the year and the first sub-1,000 monthly municipal CUSIP count since January. On a year-over-year basis, request volume for new municipal bond identifiers is down 16.8% through July.
Internationally, debt and equity CUSIP requests showed continued volatility. International equity CUSIP requests slumped to 186 last month, the slowest pace of new request volume since February. International debt CUSIP requests inched ahead to 165 new identifier requests in July.
"Capital markets participants are starting to show their concern about rising interest rates," said Richard Peterson, Director, Global Markets Intelligence, S&P Capital IQ. "For several months now the interest rate environment has favored a fast and furious pace of new security issuance; we're now seeing the tide start to shift based on the volume of new CUSIP request activity."
To view a copy of the full CUSIP Issuance Trends report, please click here.
To view a video commentary of this month's CUSIP Issuance Trends with Richard Peterson, please click here.
Following is a breakdown of new CUSIP identifier requests by asset class year-to-date through July 2013:
|
Asset Class |
2013 ytd |
2012 ytd |
YOY Change |
|
Int'l Debt1 |
1,303 |
938 |
38.9% |
|
Long Term Note |
384 |
297 |
29.3% |
|
Int'l Equity2 |
1,758 |
1,563 |
12.5% |
|
CDs > 1 yr Maturity |
4,875 |
4,392 |
11.0% |
|
US Corporates |
13,175 |
12,530 |
5.1% |
|
Short Term Note |
783 |
825 |
-5.1% |
|
Private Placement |
1,583 |
1,674 |
-5.4% |
|
CDs < 1 yr Maturity |
1,995 |
2,115 |
-5.7% |
|
Municipals |
8,485 |
10,196 |
-16.8% |
The CUSIP Global Services trends report is issued to the marketplace on a monthly basis. For more information, please visit www.cusip.com.
About CUSIP Global Services
For 40 years CUSIP Global Services has provided a unique common language for identifying financial instruments across institutions, exchanges and nations, enabling financial services firms to benefit from improved operating efficiencies and substantially reduced administrative costs. CUSIP Global Services is operated by the CUSIP Service Bureau (CSB). CSB is managed on behalf of the American Bankers Association by S&P Capital IQ. For more information, visit www.cusip.com.
About The American Bankers Association
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation's $13 trillion banking industry and its 2 million employees. Learn more at www.aba.com.
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1 "International" Debt refers to market requests for CUSIP International Numbers ("CINS") for non-U.S. debt offerings |
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2 "International" Equity refers to market requests for CUSIP International Numbers ("CINS") for non-U.S. equity offerings |
SOURCE CUSIP Global Services (CGS)
