In U.S. economic news, international trade in goods for the month of January reported a $74.4 billion deficit, below the downwardly-revised $72.3 billion deficit in the prior month, and below consensus estimates of a $72.2 billion deficit. Spanish unemployment fell in February by 6,280, as compared to January. Unemployment has fallen by 280,628 since the same time last year, or by 7.48%. Currently, unemployment is at 3.47 million, its lowest mark in 9 years. Manufacturing in South Korea continued its expansion in the month of February recording score of 50.3, lower than the prior month’s reading of 50.7. Industrial output in South Korea grew a seasonally adjusted 1.0%, on month for January, following a 1.7% decline seen in December.
As everyone geared up for the 90th Annual Academy Awards this weekend, the new issuance market managed to remain quiet, pricing 16 deals (1 IPO, 8 FOs, 4 BLKs, and 3 CVTs) for combined proceeds of $6.3B.
In U.S. economic news,the MBA mortgage applications index fell 6.6% for the week ended February 17, lower than the prior week fall of 4.1%. The United Kingdom saw GDP increase by just 0.4% sequentially, as opposed to initially reported estimates of 0.5%. Japan’s producer prices in January increased 0.7%, slightly missing analysts’ expectations of a 0.8% gain.
Following the successful debut of the new NBA All-Star game format last weekend, the new issuance market did not impress, offering just 11 deals (6 FOs, 3 BLKs and 2 CVTs) priced generating $2.1B in total proceeds.