In U.S. economic news, personal income for August rose 0.3%, below the upwardly-revised increase of 0.5% in July from 0.4%, while personal spending grew 0.4%. Meanwhile, Eurozone retail sales remained flat in August following July’s upwardly-revised 0.6% increase, and topping economists’ expectations of a 0.1% decline. Elsewhere, Japan’s average household spending rose 2.9% in August, while China’s manufacturing conditions hit the lowest point in six-and-a-half years as weak foreign demand led to dramatically less orders in September.
Healthcare, once again, proved to be a dominant force for new issuance in Q3 2015, contributing 64 deals for a total of $10.2B in proceeds and accounting for over a third of the quarter’s volume. In the past, we have continually referenced the impressive streak the sector is on, but within this piece we take a closer look at Healthcare deals since 2005 to frame the rise of the sector in today’s market.
As investors pondered the fallout of the epic debacle that is the Volkswagen emissions scandal, the markets proved to be a far less thrilling avenue as 12 deals priced last week (1 IPO and 11 FOs) and generated $3.0B, coming in ahead of the previous week’s 8 deals for $1.5B. Looking ahead to this week, markets appear to be building up in preparation for the end of the quarter as 9 deals (6 IPOs, 3 FOs) are currently expected to price, with Surgery Partners, Inc.’s $350.0M public debut leading the charge.