In U.S. economic news, durable orders for October fell 1.2%, below the prior-period’s 2.2% increase and missing analysts’ estimates of 0.4% growth. Germany’s GDP grew 0.8% sequentially, expanding from the 0.6% reported in the second quarter and in-line with economists’ estimates. Taiwan’s third-quarter real GDP grew by 3.10% year-over-year, slightly lower than the previous estimate of 3.11%, and higher than the upwardly-revised 2.28% on-year growth reported in the second quarter.
As millions of Americans were dealt a dose of tryptophan on Thanksgiving day last week, the new issuance market had a sleepy performance as only three deals (1 IPO and 2 BLKS) accumulated $519.8M in aggregate proceeds.
In U.S. economic news, retail sales grew 0.2% in October, below the prior month’s upwardly-revised 1.9% rise, but besting estimates of a 0.1% gain. The U.K. retails grew 0.3% in October, ahead of economists’ predictions of a 0.2% gain. Moody’s has announced that they have upgraded Indian sovereign debt from Baa3 to Baa2. Economic and institutional reforms prompted the ratings agency to make the change which indicates a change from “stable” to “positive.”
As the excitement has shifted from Halloween week toward the upcoming holiday season, the new issuance market had an active week welcoming 15 deals (8 IPOs, 4 FOs, 1 BLK, and 2 CVTs) for aggregate proceeds of $3.9B.