Structured Notes Rise to Four-Year High on Europe Stocks
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Issuance of U.S. structured notes last quarter climbed to the most since the beginning of 2011, driven by demand for securities tied to international stock indexes that eliminate currency risk.
Banks sold $12.9 billion of notes in 2,182 offerings during the first three months of the year, up 6 percent from the same period a year earlier, and the highest issuance since the first quarter of 2011, according to data compiled by Bloomberg based on filings with the Securities and Exchange Commission.