Goldman Sachs
May 26, 2026
Weekly Debt Issuance AUM ETD Volumes and Fund Formation
Weekly UpdateRates CreditEquitiesDerivativesFinancials
Capital markets activity was mixed for the week ending May 18, 2026, with a 30% drop in debt issuance contrasted by robust 30%+ growth in index-linked ETF AUM and derivative volumes.
Key Takeaways
- 1.Global debt issuance volumes saw a sharp 30% y/y decrease for the week of 5/18/26, though YTD volumes remain up 10%.
- 2.Index-linked ETF AUM for both S&P and MSCI continues to show strong growth, rising 33% and 39% y/y respectively for the week of 5/18/26.
- 3.Exchange traded derivative volumes expanded significantly, with MSCI-linked volumes growing 52% and S&P-linked volumes up 35% y/y.
Table of Contents
- Global Capital Markets Details Through 5/26/26
- Global Debt Issuance Volume Growth Highly Correlated with SPGI and MCO Ratings Revenue Growth
- SPGI/MSCI Index-Linked ETF AUM Growth Highly Correlated with SPGI/MSCI Asset-Based Fees Growth
- SPGI/MSCI-Linked ETD Volume Growth Predictive of SPGI/MSCI ETD Revenue/Run-Rate Growth
- Weekly Global Debt Issuance Volumes Through 5/26/26
- Weekly North America Debt Issuance Volumes Through 5/26/26
- Weekly EMEA Debt Issuance Volumes Through 5/26/26
- Weekly APAC Debt Issuance Volumes Through 5/26/26
- Weekly S&P Index-Linked ETF AUM Through 5/26/26
- Weekly MSCI Index-Linked ETF AUM Through 5/26/26
- Weekly S&P-Linked Exchange Traded Derivative Volumes Through 5/26/26
- Weekly MSCI-Linked Exchange Traded Derivative Volumes Through 5/26/26
- Weekly Number of Newly Incepted Funds Through 5/26/26
- Disclosure Appendix
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Authors
George K. TongAnna WuSami NasirAlex Lakritz
Securities
SPGIMSCIMCO
Themes
Capital Markets Activity VolatilityESG Fund TrendsInformation Services Revenue Correlation
Regions
GlobalNorth AmericaEuropeUnited States
