CUSIP Trends for June-July

Recent trends suggest strong growth in U.S. corporate debt issuance over the next 30-90 days and a steady surge of new issuance in the municipal bond market.

Identifier requests are up 7% from the first half of 2010, with a total of 9,835 identifiers sought in the first six months of this year. Municipal debt CUSIP requests continued to surge in June, making it the best monthly showing since December 2010. However, year-to-date figures still remain down (-18%) from 2010, reflecting a significant slow-down in the first quarter of 2011.

Internationally, debt and equity CUSIP activity have continued to slide for the third month in a row with only 271 international equity requests and 129 requests for international debt identifiers.

“Despite the ever-present market anxiety, CUSIP volumes for most asset classes remain strong and the first half of 2011 sets the stage for healthy levels of debt issuance over the next several months,” said Richard Peterson, Director, S&P Valuation and Risk Strategies. “We’re particularly intrigued by the activity in the muni market, which appears to be gearing up for a wave of fresh offerings in the coming months.”

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