In U.S. economic news, personal spending in December rose 0.4%, missing consensus estimates of 0.5% and below prior month’s 0.8% growth. Elsewhere, Eurozone producer price inflation increased 2.2% year-over-year for December, slowing from November’s 2.8% increase, and was lower than economists’ expectation of 2.3%. Finally, Australia’s producer prices rose 0.6% on-quarter in the fourth-quarter of 2017, higher than the 0.2% gain it witnessed in the prior-quarter.
As Super Bowl 52 attendees descended upon the frozen tundra of Minneapolis, the capital markets stayed out of the cold last week welcoming 22 deals (6 IPOs, 10 FOs, 4 BLKs, and 2 CVTs) for $9.0B in aggregate proceeds.
January opened up the year with impressive IPO figures relative to the prior-year period, boasting $8.2B in proceeds on 16 deals, which represents both an increase in deal count and proceeds from the 9 IPOs that raised $4.6B in January 2017.
In U.S. economic news, fourth-quarter GDP came in at 2.6%, below both the prior reading of 3.2%, and estimates of 2.9%. Elsewhere, Eurozone consumer confidence index more than doubled in January, to 1.3, over December’s 0.5. Japan’s producer prices rose 0.8% on-year during December, which was unchanged from the prior month and matched economists’ expectations.
While Lebron James and Stephen Curry were busy this week drafting their respective teams for the NBA’s All Star game, the new issuance market was busy as well, as 31 deals priced last week (9 IPOs, 16 FOs, 1 BLK and 5 CVTs) for $6.8B in total proceeds.