Issuance of covered bonds in January is on track to shatter a month record set five years ago, according to Barclays Capital analysts. As of Jan. 17, issuance totaled €32.3 billion ($42.95 billion)—only €1.7 billion ($2.26 billion) short of the €34 billion ($45.21 billion) recorded in January 2006, with still almost half the month to go. Armin Peter, head of UBS’ covered-bond business and syndicate, predicted that another €5 billion ($6.65 billion) to €7 billion ($9.31 billion) could be issued by the end of this week.
