It's been a spectacular year for U.S. debt desks. A record year, in fact.
To date in 2012, a whopping $1-trillion has been issued south of the border, and there are still a few weeks left before Christmas.
The hot market is a rather abrupt reversal from 2011. New debt issues this year are up 20 per cent in the U.S., according to Barclays Capital, driven by scorching non-financial companies who have sold $630-billion worth of debt, 35 per cent more than they did last year.