US Securities and Exchange Commission-registered finance sector follow-ons and convertibles have reached their highest full-year volumes on record—a point underscored by Mitsubishi UFJ Financial Group, which just priced a $3.9bn (€3bn) follow-on two months after investing in Morgan Stanley.

Follow-on volumes in the sector have reached $106bn so far this year, a sevenfold increase on the issuance of $14.6bn in the same time last year, according to Dealogic, the investment banking research provider.