Last week, the new issuance market welcomed 12 deals (5 IPOs, 4 FOs, 2BLKs, and 1 CVT) to the market for aggregate proceeds of $2.0B, following the 23 deals for $9.5B in total proceeds the week prior.
In U.S. economic news, import prices excluding oil for June rose 0.1%, coming in ahead of last month’s flat reading, while export prices excluding agriculture for the same month reported a flat reading, rising from the upwardly-revised 0.4% decrease seen in May. Elsewhere, Spain’s trade deficit climbed to EUR 1.43 billion for the month of May from EUR 0.94 billion reported in the prior-year period. Finally, Japan announced a merchandise trade surplus of ¥439.907 billion in June, down 35.9% on year and below expectations for a surplus of ¥488.0 billion following the ¥204.2 billion deficit in May.
As both Andy Murray and Novak Djokovic were eliminated in the quarter-final stage of Wimbledon last week, the capital markets brought eight deals (1 IPO, 7 FOs) to market for aggregate proceeds of $833.7M.