As the World Series got underway between the L.A. Dodgers and Houston Astros, the new issuance market had an exciting week, welcoming 23 deals (7 IPOs, 12 FOs, 2 BLKs, and 2 CVTs) for aggregate proceeds of $5.3B.
In U.S. economic news, empire manufacturing was reported as 30.2 for October, rising from prior-period results of 24.4, and above consensus estimates of 21.0. Separately, the Eurozone current account surplus rose to EUR33.3 billion in August, gaining from the EUR31.5 billion surplus reported in July. Finally, Japan’s all industry activity index grew 0.1% on month in August, reversing course from the 0.1% loss seen in the prior month, yet missing economists’ estimates of a 0.2% growth.
New issuance market deal count remained flat from the prior-week yet climbed in proceeds as it witnessed 12 deals price (5 IPOs, 6 FOs, 1 BLK) for total proceeds of $3.1B. In particular, the IPO market carried the week as its five IPOs generated aggregate proceeds of $2.4B.