2014

CUSIP Global Services Projects Growth in US Corp. Bond Issuance Request volume for new corporate CUSIP IDs hits multi-year highs in June

NEW YORK, July 12, 2013 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for June 2013.  The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity, suggests increasing volume in US corporate and municipal bond issuance over the next 30-90 days.  In international markets, the outlook is less clear.

CUSIP requests for new US corporate equity and debt issues posted their first back-to-back months of over 2,000 orders, with 2,255 identifier requests processed in June.  This followed 2,212 new CUSIP ID requests made in May.  The total volume of US corporate CUSIP requests for the first six months of 2013 is now 11,572, a 7.2% year-over-year increase. 

Municipal CUSIP requests declined to 1,244 new ID requests in June, down from 1,569 in May.  However, the June volume was still the third highest monthly total in the municipal bond category this year, helping to push second quarter muni volume to a 23% gain over the first quarter of 2013.  Despite the stronger showing in the second quarter, request volume for new municipal bond identifiers is still down 14% on a year-over-year basis.

Internationally, debt and equity CUSIP requests showed continued volatility.  International equity CUSIP requests inched 0.7% higher in June, while international debt identifier requests decreased 17% during the month.  On an annualized basis, international equity CUSIP requests are up 12.5% so far in 2013 while international debt CUSIP requests are up by over 39%.

"In a month where interest rates climbed and equity prices retreated, demand for domestic corporate security identifiers escalated to levels we have not seen in years," said Richard Peterson, Director, Global Markets Intelligence, S&P Capital IQ.  "As long as the interest rate environment continues to support new issuance at these levels, we expect to see continued issuance growth, but we are clearly watching this indicator for any signs of a slowdown."

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 June 2013:

Asset Class       

    2013 ytd

   2012 ytd

  YOY Change

Int'l Debt 1 

1,138

818

39.1%

Long Term Note       

290

212

36.8%

Int'l Equity         

1,553

1,380

12.5%

CDs > 1 yr Maturity  

4,034

3,757

7.4%

US Corporates      

11,572

10,792

7.2%

Private Placement    

1,356

1,427

-5.0%

CDs < 1 yr Maturity    

1,654

1,775

-6.8%

Short Term Note       

609

686

-11.2%

Municipals      

7,567

9,042

-16.3%

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.

1

"International" Debt refers to market requests for CUSIP International Numbers ("CINS") for non-U.S. debt offerings

2

"International" Equity refers to market requests for CUSIP International Numbers ("CINS") for non-U.S. equity offerings

SOURCE CUSIP Global Services



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