NORWALK, Conn., Feb. 16, 2024 (GLOBE NEWSWIRE) -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for January 2024. 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 January volumes roughly in line with year-ago totals across corporate and municipal asset classes.
North American corporate requests totaled 5,947 in January, which is up 10.2% on a monthly basis. On a year-over-year basis, North American corporate requests closed the month down 0.6% over year ago totals. The monthly volume increase was driven by a 24.8% rise in request volume for U.S. corporate debt and a 4.6% increase in requests for U.S. corporate equity identifiers. January also saw a 16.2% increase in request volume for long-term certificates of deposit (CDs) with maturities of more than one year.
The aggregate total of identifier requests for new municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – fell 2.2% versus December totals. On a year-over-year basis, overall municipal volumes are up 1.0%. Texas led state-level municipal request volume with a total of 79 new CUSIP requests in January, followed by California (58) and Massachusetts (44).
“As 2024 gets into full swing, we’re seeing CUSIP requests volumes that are largely in line with year-ago totals,” said Gerard Faulkner, Director of Operations for CGS. “While corporate CUSIP request volumes are up slightly on a monthly basis and municipal volumes are down slightly versus December, we appear to be on track for relatively stable issuance volumes over the course of the first quarter.”
Requests for international equity CUSIPs rose 31.4% in January and international debt CUSIP requests rose 25.8%. On an annualized basis, international equity CUSIP requests are down 9.8% and international debt CUSIP requests are up 106.3%.
To view the full CUSIP Issuance Trends report for January, please click here.
Following is a breakdown of new CUSIP Identifier requests by asset class year-to-date through January 2024:
Asset Class | 2024 YTD | 2023 YTD | YOY Change | |
International Debt | 390 | 189 | 106.3 | % |
Short-Term Municipal Notes | 86 | 50 | 72.0 | % |
| CDs > 1-year Maturity | 724 | 581 | 24.6 | % |
U.S. Corporate Equity | 914 | 791 | 15.5 | % |
Private Placement Securities | 253 | 237 | 6.8 | % |
Canada Corporate Debt & Equity | 378 | 355 | 6.5 | % |
Municipal Bonds | 579 | 592 | -2.2 | % |
Syndicated Loans | 173 | 180 | -3.9 | % |
U.S. Corporate Debt | 1,540 | 1,688 | -8.8 | % |
CDs < 1-year Maturity | 763 | 960 | -20.5 | % |
International Equity | 138 | 153 | -9.8 | % |
Long-Term Municipal Notes | 8 | 32 | -75.0 | % |
About CUSIP Global Services
CUSIP Global Services (CGS) is the global leader in securities identification. 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 plus years has helped CGS earn its reputation as the industry standard provider of reliable, timely reference data. CGS is also a founding member of the Association of National Numbering Agencies (ANNA) and co-operates ANNA’s hub of ISIN data, the ANNA Service Bureau. CGS is managed on behalf of the American Bankers Association (ABA) by FactSet Research Systems Inc., 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 is the voice of the nation’s $24 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $19.9 trillion in deposits and extend $11.4 trillion in loans.
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