SIFMA - Securities Industry and Financial Markets Association Inc.

09/23/2024 | Press release | Distributed by Public on 09/23/2024 10:01

Research Quarterly: Fixed Income - Outstanding

  • Fixed income outstanding totaled $45.3T this quarter, an increase of 0.5% Q/Q and 5.8% Y/Y. Four out of five asset classes analyzed recorded quarterly growth.
  • The leading asset class in size and was Treasuries (UST) which increased to $27.0T, +0.4% Q/Q and +8.7% Y/Y. The share of Treasury Bills outstanding decreased slightly to 21.3% of the total UST outstanding this quarter, down from 22.5% in 1Q24 but up from 18.0% in 2Q24.
  • The second largest asset class based on securities outstanding was corporate bonds at $11.0T, +0.7% Q/Q and +3.4% Y/Y.
  • The asset class with highest quarterly growth was agency securities, +1.3% Q/Q but still -7.8% Y/Y. This was the first quarterly increase in agency outstanding after four consecutive decreases, bringing the total
    to $2.0T.
  • The only asset class that did not increase outstanding this quarter was money markets, -1.4% Q/Q but +4.4% Y/Y. The total money markets outstanding was $1.2T this quarter.

Download the full report for all data, tables and the chart book.

About the Report

The SIFMA Research Quarterlies contain data and statistics on U.S. markets. The fixed income reports are split into two - (1) issuance and trading, (2) outstanding - given a delay in the reporting of outstanding data. The reports cover data on total U.S. fixed income markets, as captured in the SIFMA Research databases: U.S. Treasuries, corporate bonds, municipal securities, federal agency securities, money markets (outstanding only), repurchase agreements (outstanding only), and secured overnight financing rate.

Authors

SIFMA Research

  • Katie Kolchin, CFA, Managing Director, Head of Research
  • Justyna Romulus, Vice President, Senior Research Associate
  • Matthew Paluzzi, Research Associate

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