In today’s briefing:
- Ohayo Japan |SPX Succumbs to Debt Impass; TPX Hits New Highs; NUGGET: JP Householders Embrace Risk
- SPAC Talk : The Whopper SPAC Merger
- Weekly Sustainable Investing Surveyor : Week Ended May 12, 2023
Ohayo Japan |SPX Succumbs to Debt Impass; TPX Hits New Highs; NUGGET: JP Householders Embrace Risk
- OVERSEAS. US Equities succumbs to Debt Ceiling Impass; 2 sides still far apart; BAML May survey indicate shift to Cash; US retail sales show consumer resilience
- JAPAN. NKY Futs +0.1% vs Cash as Japan gears up to host G7 this weekend; Japan’s Topix Index closes at the highest since 1990; Ahead of AGMs, bullish MTPs abound
- NUGGET. Japanese Households Accelerating Shift Shift from Cash into Risky Assets
SPAC Talk : The Whopper SPAC Merger
- We have a whopper! For more than a year, we have been noting how IBC deals have been getting smaller.
- While there have been four $1 billion-plus deals announced so far in 2023, in terms of size, we have not seen anything like the $27 billion pre-money value for the proposed SPAC IBC merger that was announced at the end of last week by SPAC Black Spade Acquisition Co. (BSAQ) and privately held VinFast Auto, a Vietnamese manufacturer of EVs, since the peak of the SPAC euphoria in 2021.
- In fact, this transaction happens to be the third-largest SPAC merger deal in history behind MSP Recovery (LIFW) in July 2021 (TEV $32.6 billion) and Grab (GRAB) in April 2021 (TEV $31.3 billion).
Weekly Sustainable Investing Surveyor : Week Ended May 12, 2023
- During the week ended May 12, 2023, there were four increases (one in Energy Technology, and three in Industrial Climate and Ag Technology) 2022 revenue estimates.
- There were four decreases in 2022 revenue estimates for three companies in Energy Technology, and one company in Advanced Transportation Solutions.
- One company in Advanced Transportation Solutions and three companies in Industrial Climate and Ag Technology saw increases in 2022 EPS estimates, while two companies each in Energy Technology and Advanced Transportation Solutions saw decreases in 2022 EPS estimates.
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