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U.S. bond issuance on fire, much hotter than Canada's

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.