🔍 The Big Picture
The SEC’s Division of Economic and Risk Analysis (DERA) is back with a treasure trove of data that’s a goldmine for investors, issuers, and the financially curious. From IPOs to corporate bonds, the latest report sheds light on market movements in 2025. Transparency is the buzzword here, as the SEC aims to demystify the complex world of securities with interactive and downloadable visuals.
“We continue to provide increasing amounts of useful data to the public,” said Dr. Joshua T. White, Chief Economist and Director of DERA. “These updates offer insight into how our markets are functioning and increase overall transparency for investors, issuers, and the public.”
📈 IPOs and Offerings Galore
2025 was a blockbuster year for IPOs, with 374 companies going public and raising over $70 billion. That’s nearly double the $39 billion raised in 2024! Meanwhile, Regulation D offerings also saw a boost, with 34,553 offerings raising $2.4 trillion, up from $2.1 trillion in 2024. Corporate bond offerings took a slight dip in number but managed to raise even more capital, hitting $1.25 trillion.
- 2024: 246 IPOs, $39B raised
- 2025: 374 IPOs, $70B raised
- Regulation D 2024: 32,554 offerings, $2.1T raised
- Regulation D 2025: 34,553 offerings, $2.4T raised
- Corporate Bonds 2024: 1,795 offerings, $1.17T raised
- Corporate Bonds 2025: 1,694 offerings, $1.25T raised
🏢 ABS & CMBS: On the Rise
Asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS) also had a noteworthy year. ABS issuances climbed to 2,320 in 2025 from 2,032 in 2024. CMBS issuances followed suit with an increase to 348 from 302. The data is now presented in engaging formats like time series charts, pie charts, and heat maps on the SEC’s website, making it easier than ever to understand these trends.
- ABS 2024: 2,032 issuances
- ABS 2025: 2,320 issuances
- CMBS 2024: 302 issuances
- CMBS 2025: 348 issuances
📊 The Financial Health of SBSDs
The SEC didn’t stop at offerings and bonds. Their latest report dives into the financial conditions of Security-Based Swap Dealers (SBSDs), highlighting assets held, cash flow, leverage, profitability, and overall positions in various swaps. This comprehensive analysis helps market participants and regulators keep a close eye on the financial health of these key players.
“These updates offer insight into how our markets are functioning and increase overall transparency for investors, issuers, and the public.”