Municipal CUSIP Request Volume Increases for Sixth Straight Month
Volume for Corporate and International Asset Classes Largely Flat in June
NEW YORK, July 10, 2019 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for June 2019. The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity over the next quarter, found a sixth consecutive increase in requests for new municipal debt identifiers, while other major asset classes were flat in June.
CUSIP identifier requests for the broad category of U.S.- and Canada-issued equity and debt, decreased 0.4% between May and June. A 4.5% monthly decline in requests for U.S. corporate equity identifiers was largely offset by a 4.0% increase in requests for U.S. corporate debt identifiers. Volume was flat in Canada. On a year-to-date basis, total volume for North American corporates was down 5.4%.
Municipal CUSIP requests increased for the sixth straight month in June. The aggregate total of all municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – saw a 5.2% increase versus May 2019 and a 7.5% increase on a year-to-date basis.
"With the 10-year U.S. Treasury benchmark hovering at around 2%, municipal issuers are clearly taking advantage of the low rate environment to raise new debt," said Gerard Faulkner, Director of Operations for CUSIP Global Services. "Though activity across most asset classes was muted in June, municipal request volume may continue to increase in the second half of the year."
Requests for new international debt and equity CUSIP International Numbers (CINS) were flat in June. International equity CINS were unchanged versus the previous month, while international debt CINS increased 2.6% during the same period.
To view a copy of the full CUSIP Issuance Trends report, please click here.
Following is a breakdown of New CUSIP Identifier requests by asset class year-to-date, through June 2019:
Asset Class |
2019 ytd |
2018 ytd |
YOY Change |
Private Placement Securities |
1734 |
1356 |
27.9% |
Short Term Municipal Notes |
738 |
485 |
52.2% |
CDs < 1 yr Maturity |
4543 |
3828 |
18.7% |
Municipal Bonds |
5366 |
5086 |
5.5% |
U.S. & Canada Corporates |
12,365 |
13,079 |
-5.5% |
CDs > 1 yr Maturity |
3934 |
4705 |
-16.4% |
International Debt |
1691 |
2074 |
-18.5% |
Long Term Municipal Notes |
209 |
329 |
-36.5% |
International Equity |
562 |
1218 |
-53.9% |
About CUSIP Global Services
The financial services industry relies on CGS' unrivaled experience in uniquely identifying instruments and entities to support efficient global capital markets. Its extensive focus on standardization over the past 50 years has helped CGS earn its reputation as a trusted originator of quality identifiers and descriptive data, ensuring that essential front- and back-office functions run smoothly. Relied upon worldwide as the industry standard provider of reliable, timely reference data, CGS is also a founding member and co-operates the Association of National Numbering Agencies (ANNA) Service Bureau, a global security and entity identifier database for over 34 million public and privately traded instruments, contributed by 92 national numbering agencies and 27 partner agencies representing 255 different countries. CGS is managed on behalf of the American Bankers Association (ABA) by S&P Global Market Intelligence, with a Board of Trustees that represents the voices of leading financial institutions. 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.
SOURCE CUSIP Global Services
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