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CUSIP Requests for Municipal Securities Continue to Rise

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CUSIP Requests for Municipal Securities Continue to Rise

Highlights

CUSIP request volume in October was mixed as most corporate sectors were down while municipal issuance continued to surge for the second straight month.

The real story in this month’s data comes from the municipal market, where issuers have notably ramped up their access to debt markets.

There were approximately 300 muni identifiers issued for Texas in October, a 76.5% increase month over month and one of the highest monthly state totals this year.

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CUSIP request volume in October was mixed as most corporate sectors were down while municipal issuance continued to surge for the second straight month.

U.S. corporate debt requests were down 9.2%, equity requests were down 4.9% and Canadian issuance was down 8.7% from September. On a year-over-year basis, corporate CUSIP requests were up 12.2%.

Municipal volumes also surged in October. The aggregate total of identifier requests for new municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – rose 31.8% versus September. On a year-over-year basis, overall municipal volumes are up 15.4%.

Requests for international equity and debt CUSIPs were mixed in October. International equity CUSIP requests were down 13.8% versus September. By contrast, international debt CUSIPs increased 5.9% on a monthly basis.

Everything's bigger in Texas, including its municipal CUSIP request total. There were approximately 300 muni identifiers issued for Texas in October, a 76.5% increase month over month and one of the highest monthly state totals this year. California and New York came in second and third, respectively with 175 and 148 requests. Illinois and Minnesota round out October's top five.

Requests for international equity and debt CUSIPs were mixed in October. International equity CUSIP requests were down 13.8% versus September. By contrast, international debt CUSIPs increased 5.9% on a monthly basis.

To see interactive graphs for all October CUSIP request volumes by asset class, access the full report. Sign up here to receive CUSIP Global Services’ monthly Issuance Trends reports as soon they’re released.

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