US wrap: Royal Bank of Canada offers access to leisure industry

Holiday resorts form basis of RBC reverse convertibles

Volumes have picked up after a few days of extremely small issuance figures, though as all the products in the latest issuance are reverse convertibles from Royal Bank of Canada and most have three-month maturities, there is little variety and no overall theme.

Some smaller themes are apparent, however. As is usual with recent offerings, financials and metals are popular. And the latest issuance also sees a trend towards the leisure industry, which despite being popular for some time is not a do