In U.S. economic news, CPI grew 0.1% in July, higher than June’s flat reading, and missing consensus estimate of a 0.2% gain. Meanwhile, German industrial production descended 1.1% month-over-month in June, reversing course from the 1.2% rise seen in the prior month. Finally, Japan’s core machine orders fell 1.9% in June, shy of forecasts of a 3.6% increase following May’s 3.6% decrease.
As geopolitical tensions caused a pullback in many of the world’s major indices, the new issuance market seemed to shrug off any concern as the week’s issuance volume increased to 32 deals (3 IPOs, 14 FOs, 10 BLKs, and 5 CVTs) for aggregate proceeds of $8.4B.
In a week that turned the calendar to the first week of August, the new issuance market saw a marginal increase in volume as 13 deals (2 IPOs, 7 FOs, 2 BLKs, and 2 CVTs) priced for aggregate proceeds of $3.0B.
In U.S. economic news, June’s existing home sales totaled 5.52M, lower than the 5.62M posted in May and forecasts of 5.58M. Meanwhile, the Eurozone’s Economic Sentiment Index marginally increased to 111.2 in July following June’s 111.1 reading, and surpassed analysts’ expectations of 110.8. Finally, Consumer prices in Japan increased 0.4% on year in June, matching economists’ estimates, and remaining unchanged from the prior month.