In U.S. economic news, housing starts for the month of January registered at 1,326,000, above consensus estimates of 1,240,000, and above the upwardly revised prior month’s reading of 1,209,000. Elsewhere, U.K. retail sales rose 0.1% month-on-month during January, coming in lower than the expected 0.5% rise, and reversing course from the 1.4% drop in the prior month. Finally, China’s new loans for January registered CNY 2,900.00 billion, higher than the consensus estimates of CNY 2,000.00 billion.
As the U.S. Snowboarding Team continued to take home Gold medals at the Olympics, the new issuance market was not celebrating as hard as 15 deals (2 IPOs, 10 FOs, 2 BLKs and 1 CVT) priced, garnering $1.9B in total proceeds.
The U.S. MBA mortgage applications index rose 0.7% for the week ended February 3rd, higher than the dip of 2.6% in the prior week. Elsewhere, the industrial output of France grew by 0.5% sequentially in December, positively reversing the 0.3% fall seen in November. Finally, Malaysia’s unemployment rate remained constant at 3.3% in December, the same rate that was reported in November.
While the opening ceremony of the winter Olympics energized and celebrated the globe’s top athletes, the new issuance market was equally energized with 22 deals (7 IPOs and 15 FOs) pricing for $2.5B in proceeds.