SIFMA Releases Research Quarterly for Second Quarter
According to the new report, total securities issuance during the second quarter of 2010 dropped 11.6% to $1.6 trillion from the first quarter and declined 23.7% year-over-year (y-o-y). Markets have been preoccupied with the progress and shape of financial regulatory reform. Shortly after the second quarter, the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act") was passed and signed into law by President Obama. The law touches almost every aspect of the U.S. financial system, spurring hundreds of mandatory regulatory actions, the report explains.
The twenty page report goes on to provide analysis and statistics on Municipal, Treasury, Federal Agency, Funding and Money Market, Mortgage-Related, Asset-Backed and CDO, Corporate Bond, Equity and Primary Loan Markets.
Highlights among the capital markets overview include issuance figures for the second quarter:
- Municipal issuance totaled $100.2 billion, declining 9.8% from 2Q'09.
- While net treasury issuance fell 5.5% in the second quarter, issuance is still 10.3% above 2Q'09.
- Federal Agency debt counted $232.7 billion in the second quarter; down almost 26% y-o-y.
- Mortgage-related issuance dropped significantly to $356.5 billion, a 45.7% decreased y-o-y.
- Corporate bond issuance totaled $162.7 billion in the second quarter.
- Equity market issuance rose again, totaling $47.9 billion in the second quarter.
For the full report, including detailed charts within each market, click link below.