NEW YORK, Oct. 10, 2012 /PRNewswire/ -- CUSIP Global
Services (CGS) today announced the release of its CUSIP Issuance
Trends Report for September 2012. The report, which tracks
the issuance of new security identifiers as an early indicator of
debt and capital markets activity, suggests mixed results for new
market volume in the fourth quarter, with US corporates and
international debt signaling an up-tick, while municipal bonds and
international equity are suggesting a slowdown in new issuance.
CUSIP requests for US corporate securities increased 10% in
September, with 1,734 new CUSIP offerings requested in the month,
versus just 1,563 in August. Total US corporate CUSIP
requests have increased 3.4% on a year-over-year basis.
Municipal CUSIP requests slumped to 1,047 in September, down
from the August count of 1,403 and the second lowest monthly count
since January 2012. September marked the third month in a row
of declining municipal CUSIP requests, following several months of
significant increases. Year-over-year, municipal CUSIP demand
is still up by more than 35.2%, representing one of the strongest
advances in CUSIP requests this year across all asset classes.
International debt CUSIP demand rose for the third month in a
row, pushing year-over-year growth to 4.3%, the first time this
category has been in the black this year. International
equity CUSIP requests ticked down in September, bringing the
year-over-year total for the asset class to -28.2%.
"Like most market signals these days, the CUSIP Issuance Trends
data is giving us a mixed message, with some green shoots popping
up and some negative trends developing," said Richard Peterson, Director, Global Markets
Intelligence, S&P Capital IQ. "Clearly, corporations are
seizing the current interest rate environment to continue to issue
new debt, but, elsewhere in the markets, signs of trepidation are
apparent."
To view the full report, 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 September
2012:
|
|
Asset
Class
|
2012
ytd
|
2011
ytd
|
YOY
Change
|
|
Long
Term Note
|
445
|
318
|
39.9%
|
|
Municipals
|
12,646
|
9,352
|
35.2%
|
|
Private
Placement
|
2,171
|
1,798
|
20.7%
|
|
CDs
< 1 yr Maturity
|
2,886
|
2,758
|
4.6%
|
|
Int'l
Debt1
|
1,239
|
1,188
|
4.3%
|
|
US
Corporates
|
15,827
|
15,308
|
3.4%
|
|
Short Term
Note
|
1,169
|
1,274
|
-8.2%
|
|
CDs > 1
yr Maturity
|
5,809
|
6,133
|
-8.5%
|
|
Int'l
Equity2
|
1,974
|
2,713
|
-28.2%
|
|
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 (CGS)