Sentences with phrase «new issuance»
The phrase "new issuance" refers to the creation and sale of brand new stocks, bonds, or other financial securities by a company or government entity. It means that these securities are being offered for the first time to potential buyers in the market. Full definition
The program was successful in generating new issuance of ABS in those areas.
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On the positive side, the slowdown in new issuance activity has reduced the supply of bonds available for purchase, which has helped support bid levels.
Given that pipeline, the market may be rapidly approaching a plateau for new issuance.
To some extent, the industry is still waiting for more guidance on how regulators will act on that and what impact the new rules might have on new issuance going forward.
As interest rates declined and the economy recovered, many issuers returned to the market to refinance old debt at lower rates and new issuance increased during the 1990s.
There has been substantial new issuance of debt and equity.
Both investment grade and high yield saw a significant amount of new issuance over the week.
As a result, almost $ 27 billion in new issuance hit the market in Q3, the highest quarterly total in three years.
As a result, the first quarter of 2004, generally a slow period for new issuance, may be stronger than most analysts anticipated.
Issuance is not unique to the investment - grade sector, as U.S. municipal bonds have also experienced a surge of new issuance by cities, states, and government entities.
The U.S. Treasury is scheduled to announce its findings on a refunding survey on Wednesday, with analysts projecting an increase in auction sizes, or new issuance at different points on the yield curve.
Both of these factors are now cutting into current and future supply, with new issuance in the first quarter falling nearly 30 % versus the year - ago period.
Given the long - term history of new issuance exceeding buybacks, it's more likely that future EPS could actually suffer from net dilution.
Second, Europe issues significantly fewer bonds than the U.S. Citi estimates the ECB could source up to 89 % of their bond purchases from existing holders rather than from new issuances.
Both markets experienced plenty of new issuance as investment grade names such as Anadarko Petroleum, Goldman Sachs and Oracle, along with the high yield names of Ithaca Energy, Jaguar and RJS Power all issued debt last week.
The past week saw new issuance of at least USD 42 billion, as deals across all maturities came to market.
In September, however, the law allowing the Ministry of Finance to issue debt expired, bringing new issuances to a halt.
It has reached approximately USD 250bn with already more than USD 150 bn of new issuance last year.
Tier 1 capital looked quite good last quarter, as one would expect from the combination of a large new issuance of bank securities, combined with an easing of accounting rules to allow «significant judgment» with respect to credit losses.
Munis: While it may appear the most vulnerable, the municipal bond market has had it's supply / demand equilibrium out of kilter for some time due to low new issuance.
There were three new issuances added to the S&P Indonesia Sovereign Bond Index this year, with a total of INR 39 trillion.
The remaining USD 270 billion of net new issuance propelled the market value of the S&P 500 Bond Index to over USD 4.5 trillion by the end of 2017 — an increase of 2.0 trillion since 2011 (see Exhibit 1).
The total local currency new issuances in the index was only around one - third of last year's rate, as Indonesian sovereigns continued to tap into different foreign currency markets; for example, they raised USD 4 billion from its global bond issuance in the first week of December.
Tom Lydon's recent article [2] discusses the pull back in the high - yield market and mentions new issuance as a factor.
The market has contracted in each of the last four years because new issuance failed to keep pace with the expiry of bonds issued in 2006 and 2007.
These «core» ETFs are frequently used as building blocks at the centre of a portfolio and have continued to attract significant flows as «non-core» ETFs have come to dominate new issuance in recent years.
The high yield new issuance calendar of $ 72.7 billion during the quarter was flat sequentially ($ 72.5 billion in the 4th quarter of 2017) and down year - over-year ($ 98.7 billion in the 1st quarter of 2017).
Where the TALF program provides low - interest loans to investors in CMBS to help stimulate that market, with a particular focus on generating new issuance, the Public - Private Investment Program (PPIP) was designed as a more direct means of addressing existing troubled assets.
In May, the government announced the expansion of TALF to include commercial mortgage - backed securities (CMBS) as a means to bring liquidity to that market and encourage new issuance.
The intended effect of the program is to initiate an upward cycle, with increasing investment in the CMBS market pushing prices up and ultimately stimulating new issuance.
«I think the paltry issuance total thus far in 2016 has affected the delinquency rate, since the denominator of non-delinquent loans is not increasing via new issuance to offset new delinquencies,» says Sean Barrie, a research analyst at Trepp in New York City.
That may be why the investment trusts are on pace for their busiest year in new issuance since 2013, having raised some $ 4.7 billion of common and preferred equity, according to Bloomberg data.
That would put 2012's non-agency CMBS volume on par with 2011's $ 32.9 billion, but fall $ 15 to $ 20 billion short of earlier expectations, according to Ken Cheng, managing director for CMBS new issuance ratings with Horsham, Pa. - based Morningstar Credit Ratings LLC.
The CMBS market regained its stride, totaling $ 48 billion in new issuance during 2012 and closing in on government agencies» market share, at 22 percent.
This is likely to reduce new issuance by 15 % to 25 % in 2018, probably enough reduction in supply to negate higher yields caused by lower tax rates.
Over the long term, new issuance exceeds repurchases by a large margin, eroding rather than bolstering EPS.
Second, Europe issues significantly fewer bonds than the U.S. Citi estimates the ECB could source up to 89 % of their bond purchases from existing holders rather than from new issuances.
Informa Financial Intelligence Chief Macro Strategist David Ader on why forced buying of Treasurys, combined with new issuance to meet soaring deficits, means the rise in yields may soon be at a peak.
CMBS has also provided a nice boost both on new issuance and the refinancing opportunities that are beginning to hit the market.
In J.P. Morgan's estimates, year - to - date private label CMBS issuance has already outpaced the levels seen during the same period last year by 48 percent and remains on pace to reach at least $ 105 billion in new issuance for full - year 2015.
New issuance of green bonds has ballooned over the past few years.
Value - added trading platform that includes our ability to structure new issuance and trade in local markets
In this edition of Capital Markets View, Chris Porter, Head of Loan, Recovery & CLO Business Development and Taron Wade, Director at LCD, part of S&P Global Market Intelligence discuss: New issuance and the increase in M&A plus fresh LBOs; The uptick in loan pricing and the rise in the size of Term Loan Bs; CLO pricing and the arbitrage.
This puts central banks in a position where they will have attempt to control interest rates not by discounting lending, but by buying debt from the government directly, so that markets don't price the new issuance at a level that would destroy the nation's ability to service a debt load that is growing larger all the time.