The month saw robust issuance activities of SEC-registered structured notes while Canadian issuers dominated the top sellers.

In July, a total of US$11.7 billion notional was traded from 3,598 structured notes registered with the US Securities and Exchange Commission (SEC), a rebound of 27.9% month-on-month (MoM) and 33.9% year-on-year (YoY), according to SRP data. The market experienced a seasonal slowdown in June before it rebounded in July to a level seen in January and February unlike in the same period for 2023 and 2022 when new issuances were in a downwards trajectory. Among 15 issuer groups – including N