Trends in U.S. debt market
Asset-backed issuance
- Declined 5.1% for the year and 15.9% in 4Q
Mortgage-backed securities
- Increased 53% for the year and 45.9% in 4Q
Total U.S. bond market issuance increased 9.8% for year and 19.0% for 4Q
- U.S. RMBS issuance increased 48.8% in 2004 and 58.6% in 4Q—both records