New data from S&P Global found that global securitization issuance in the first half (H1) 2020 was $420 billion. This is down 20% from the $525 billion total during the same period from last year. Within the U.S., total issuance for H1 2020 was $201 billion, down 30% from the $670 billion last year. U.S. ABS issuance totaled $86 billion, CMBS issuance totaled $28 billion, and RMBS issuance was $51 billion. In their analysis of the data, S&P Global notes that how countries recover from the COVID-19 pandemic will determine how issuance does in the second half.