Odd Lots · Monday, November 2, 2026
Alex Michelizzi of Nomura stated that US registered structured notes are on track to reach approximately $300 billion this year, up from around $200 billion last year. The growth is heavily driven by worst-of auto-callables tied to indices like the S&P, NASDAQ, and Russell.
“If we look at the structured product business in the US, it's got larger and larger. I think SEC registered notes this year are on track to hit about 300 billion versus approximately 200 billion last year.”