US Wrap: Week of activity closes with quiet spell

The US market has enjoyed a relatively busy period which has tailed off as the week draws to a close. Forty-four products have been launched over the past seven days, including one day of bumper reverse convertible issuance when ABN Amro unveiled 19 of the structures.

JP Morgan, Barclays and Eksportfinans also launched their own reverse convertibles resulting in two duplications: both Microsoft and Wells Fargo emerged as underlyings for two structures each. ABN and JP Morgan offered the financial stock at a maturity of either three months or six months respectively.

Unusually, the S&P 500 index was used as an underlying for only eight of the week's new products, as the exposure on offer becomes increasingly diverse, including three notes which give exposure