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Muni, Corporate CUSIP Requests Drop In December - What About For 2019 Overall? - CUSIP Global Services

Date 15/01/2020

The latest issue of the CUSIP Issuance Trends Report, tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity over the next quarter, has been issed: 

https://pages.marketintelligence.spglobal.com/rs/565-BDO-100/images/CGSIssuanceTrends-PR-Dec19.pdf

As you can read at the link, both municipal requests and corporate requests declined in December, and this was the second straight month for a drop for munis.

Specifically: 

--Municipal identifiers: Municipal CUSIP requests declined for the second straight month in December, after climbing for much of the year. The aggregate total of all municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – fell 24.1% month over month. For the full year, however, municipal request volume was up 14.7% in 2019. A grand total of 14,839 requests for municipal CUSIP identifiers were made in 2019, falling short of the record for full-year volume which was 16,683, set in 2009

--Corporate debt identifiers: CUSIP identifier requests for the broad category of U.S.- and Canada-issued equity and debt decreased 14.1% in December. The decrease was driven by a 30.2% decline in requests for domestic corporate debt identifiers, a 13.0% fall in requests for domestic corporate equity identifiers and an 18.6% drop in requests for Canadian identifiers. For the full year 2019, total volume for North American corporates was down 1.2%

You can find a copy of the report on which this is based here: https://pages.marketintelligence.spglobal.com/rs/565-BDO-100/images/CGSIssuanceTrends-Dec19.pdf