Global Funding Trends in Capital Markets in 2017

24 Pages Posted: 26 Jul 2018 Last revised: 1 Aug 2018

See all articles by Alberto Fuertes

Alberto Fuertes

Banco de España

Luis Molina

Banco de España

Luna Romo

Banco de España

Emilio Muñoz de la Peña

Banco de España

Date Written: March 13, 2018

Abstract

The total volume of bond issuance in 2017 remained similar to that in previous years, edging down slightly as a result of the drop in public-sector issuance. As usual, there were significant differences between the regions and quarters analysed. By quarters, the year got off to a good start, with strong growth in the volume of issuance in the first quarter, followed by a slight deceleration. This pattern possibly reflects some issuers seeking to bring forward their placements in anticipation of worsening financial conditions, given the context of progressive monetary policy tightening. By region, the drop in issuance by the United States stands out, alongside the strong performance of the emerging markets. There was also a marked increase in the volume of placements in higher-risk segments, such as corporate and high-yield bonds, and in emerging markets, which reached record levels.

Suggested Citation

Fuertes, Alberto and Molina, Luis and Romo, Luna and Muñoz de la Peña, Emilio, Global Funding Trends in Capital Markets in 2017 (March 13, 2018). Banco de Espana Article 6/18. Available at SSRN: https://ssrn.com/abstract=3219694

Alberto Fuertes (Contact Author)

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

Luis Molina

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

Luna Romo

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

Emilio Muñoz de la Peña

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

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