NORWALK, Conn., Dec. 14, 2023 (GLOBE NEWSWIRE) — CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for November 2023. 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 monthly increase in request volume for new corporate and municipal identifiers.
North American corporate requests totaled 5,907 in November, which is up 4.3% on a monthly basis. On a year-over-year basis, North American corporate requests closed the month up 15.9% over year ago totals. The monthly volume increase was driven by a 5.6% increase in request volume for corporate debt and a 3.1% increase in requests for U.S. corporate equity identifiers. November also saw a 5.1% increase in request volume for short-term certificates of deposit (CDs) with maturities of less than one year, while request volumes for long-term CDs (maturities greater than one year) fell 9.0%.
Municipal request volume rose for a second straight month in November. The aggregate total of identifier requests for new municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – climbed 2.7% versus October totals. On a year-over-year basis, overall municipal volumes are down 6.0%. Texas led state-level municipal request volume with a total of 146 new CUSIP requests in November, followed by California (72) and Indiana (70).