U.S.-dollar denominated covered bond volume stands at $28.9 billion representing 25 deals year-to-date — the highest year-to-date volume on record.

It is also ten times more than the $2.6 billion raised through 14 deals in year-to-date 2009, according to a report by Dealogic.

U.S. denominated volume, according to Dealogic, comprises 9% of the total covered bond volume issued in 2010 year-to-date versus merely 1% over the same period last year.

Meanwhile, Canadian issuers make up  the biggest volume of covered bond issuance in U.S. dollars with $14.7 billion. This is followed by France and Norway, which did $6.8 billion and $3.5 billion, respectively, Dealogic reported.

Barclays Capital leads the covered bonds bookrunner ranking in 2010 year-to-date with a 6.6% market share, followed by BNP Paribas (6.3%) and UniCredit Group (5.9%), the Dealogic report said.

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