In U.S. economic news, CPI declined 0.2% in September, lower than the prior 0.1% decline, while core CPI rose 0.2%, above a prior 0.1% uptick. Elsewhere, Germany’s manufacturing employment and earnings saw an increase in the month of August, reporting that 5.4 million people working in August, adding 52,000 jobs or a year-over-year increase of 1.0%. Finally, Singapore’s exports enjoyed recovering in September with non-oil domestic exports increasing 0.3% year-over-year.
If it weren’t for Ferrari N.V.’s high-octane debut last week, it could have been one of the years slowest. A mere 5 deals priced (4 IPOs, 1FO) for total proceeds of $1.3B, as Ferrari zoomed in as this year’s 4th largest IPO under ticker RACE, inflating the total proceeds with its $982.4M offering from an otherwise meager $364.0M raised by the remaining 4 priced deals.
With Halloween just around the corner, investors had more to be spooked about than ghouls, goblins and ghosts as only 11 deals priced last week (4 IPOs, 6 FOs, 1 CVT) for combined proceeds of $4.3B. While only slightly ahead in terms of deal count to the 9 deals that priced in the prior week, aggregate proceeds were well ahead of the prior-week’s $1.6B aggregate largely due to First Data Corp.’s $2.6B market debut.