The only certainty is uncertainty, as the saying goes. Despite these uncertain times, however, the structured finance market is expected to weather the storm. flow’s Janet Du Chenne takes a look at the forecasts for the year ahead
Structured finance issuance is holding steady. S&P’s recent 2019 outlook webinar set the scene, noting over US$1trn in issuance in 2018, a 12% increase over the US$970bn figure of 2017. It said that while recovery could be impacted by the renegotiation of existing trade agreements, Brexit and rising macro-economic and political uncertainty globally, it expects 2019 issuance volume to be roughly US$1trn, with even higher issuance in 2020. In the US, the expectation is for U$535 billion in new issuance in 2019, up from US$530bn in 2018.
There are a number of key trends underpinning these expectations for the structured finance market in 2019:
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