摘要：The total volume of bond issuance in 2017 remained similar to that in previous years,edging down slightly as a result of the drop in public-sector issuance. As usual, therewere significant differences between the regions and quarters analysed. By quarters, theyear got off to a good start, with strong growth in the volume of issuance in the firstquarter, followed by a slight deceleration. This pattern possibly reflects some issuersseeking to bring forward their placements in anticipation of worsening financial conditions,given the context of progressive monetary policy tightening. By region, the drop inissuance by the United States stands out, alongside the strong performance of theemerging markets. There was also a marked increase in the volume of placements inhigher-risk segments, such as corporate and high-yield bonds, and in emerging markets,which reached record levels.
