Fresh Supply: Part Three

The MetLife offering priced last night raising over $9 billion. That makes this week the heaviest week of offerings of the year. I believe this supply combined with the uncertainty in the Middle East should keep a lid on the market in the coming days.

Retail investors have not been scared off by Mideast turmoil or higher oil prices as ICI reported that $1.5 billion flowed into equity mutual funds in the latest week. This likely explains why the decline in the major indexes has been so small since the crisis.

2 comments:

CP said...

Do you have a good source for new equity issuances?

Tsachy Mishal said...

Mostly looking at headlines but there is a calendar each Friday night published in the Journal.
http://online.wsj.com/mdc/public/page/2_3022-newoffer.html?mod=topnav_2_3000

All the offerings this week were unplanned so you would have had to be looking at the headlines.