The burst of activity comes after months of relative quiet, with potential issuers scared away by the coronavirus pandemic and related turmoil. The issues are expected to raise $2.5 billion combined if the shares price at the midpoints of their target ranges.13
The Dow industrials and S&P 500 finished higher as investors weighed the pace of an economic recovery, risks from U.S.-China tensions, the coronavirus and growing social tension in the U.S.
The British pound rose to its highest level against the U.S. dollar in a month as investors grew more optimistic about trade negotiations between the U.K. and the European Union.
Crude prices continued a recent rebound as analysts anticipate that oil producers led by Saudi Arabia and Russia will extend supply curbs in response to the energy industry’s crisis.
Italian banks’ efforts to continue cleaning up by securitizing nonperforming loans are being hurt by the coronavirus pandemic.6
China is dabbling with Western-style unconventional monetary policy, as it seeks to shore up small businesses and the labor market without fueling market bubbles.4
Australia’s No. 2 airline filed for bankruptcy protection after the coronavirus halted most air travel and drew interest from more than 10 parties at one point.
Investors seeking high returns got burned after pouring savings into leveraged exchange-traded notes; funds focused on deals are changing positions amid coronavirus uncertainty, and summer vacation plans should be cautiously planned.
