Chart of the Week and Weekly Report Highlights
This week: Precious Metals, Gold Miners, Defensive Value, UK Equities, US IPO/ListCo Stats, CDS spreads, credit fund flows, bond market sentiment
This email provides a glimpse at what’s covered in the latest Weekly Insights report
The “weekly insights” presents some of the key findings from our institutional research service, providing an entrée experience (in terms of price and size).
Chart of the Week - IPO Boom & Bust
US IPO Activity — From Boom to Bust: This chart gives a sense for the magnitude and scale of the US IPO boom (and bust). Notably, IPO filings increased exponentially through the second half of 2020 into 2021. More recently though, IPO filings have tapered off rather significantly.
At the same time, IPO withdrawals spiked in January with a record number of IPOs withdrawn. This is not surprising given the volatility in markets and the Fed policy pivot towards tightening.
As a barometer for speculation and liquidity, we can clearly see the tides going in and out on this chart. Hence, I would chalk this up as another piece of evidence of the shift in sentiment — and steadily evolving risk vs return balance as this strange-yet-familiar cycle runs its course.
Key point: IPO activity has gone from boom to bust; reflecting the liquidity tides.
NOTE: If you haven’t already, be sure to subscribe to our paid service so that you can receive the full reports ongoing (along with access to the archives, monthly asset allocation review, and Q&A). The main benefit is you get hooked into a flow of ideas, risk management input, and meaningful macro insights — helping you navigate the evolving risk vs return picture across global markets.
Topics covered in the latest Weekly Insights Report:
These are the topics, themes, and ideas covered in the latest report, subscribe to get instant access to the full detail behind these.
Precious Metals: gold and silver are set to shine.
Gold Miners: promising outlook for gold miners.
Defensive Value: a classic contrarian value setup.
UK Equities: momentum building for UK equities.
US IPO/ListCo Stats: IPO boom may be heading for bust.
Credit Markets: checking in on CDS pricing and credit fund flows.
Bond Sentiment: bond market sentiment reaching extremes.
Subscribe now to get instant access to the report so you can check out the details around these themes, as well as gaining access to the full archive of reports.
Thanks for your interest. Feedback and thoughts welcome.