Momentum for March remains strong as the quarterly sales grew 42% year-on-year.
A total of US$19.0 billion was booked in traded notional from approximately 6,250 issues in March, which was up 2.8% from February and a 41.1% surge year-on-year (YoY), SRP data shows. The issues are specific to structured notes and do not include non-directional (callable) fixed rate notes. Income and growth types accounted for 43% and 57% of the monthly sales. By payoff, approximately US$10.1 billion of the flow, or 53.2%, came from autocallable structures, some of which are additionally em