Jersey Mike’s Prices $1B NYSE IPO at $23; JMKE Debuts Today
Blackstone-backed Jersey Mike’s priced its NYSE IPO at $23/share, raising about $1B at a $7.3B equity valuation; JMKE begins trading July 30.
Stock Market
M&A Push Puts July IG Bond Sales on Pace for Decade High
Bank of America projects $130 billion of July U.S. investment-grade issuance, just shy of 2015’s record, as M&A financing and Big Tech capex flood the tape.
Schwab Joins Prediction Markets With Cboe S&P 500 Bets
Charles Schwab is partnering with Cboe to launch binary yes/no S&P 500 event contracts, pushing prediction-market trading deeper into mainstream brokerage.
Treasury Yields Jump as Warsh’s Dot Plot Pencils a 2026 Hike
The Fed held rates 12-0 but its new dot plot now sees fed funds at 3.8% by year-end, above the current 3.5-3.75% band – a hawkish first move under Chair Warsh.
Treasury’s Coupon Storm Hits Right After Warsh’s First FOMC
Treasury sells $24B in 5-year notes hours after the Fed decides June 17, then a 2y/5y/7y trio Jun 23-25 — ~$200B of supply in seven days.
FOMC June Preview: Warsh’s First Dot Plot, Cuts in Play
The June 16-17 FOMC is Kevin Warsh’s first meeting with a fresh Summary of Economic Projections. Here’s what bond and credit markets are pricing.
Dana, Eaton Strike $5.1B Mobility Deal in Reverse Morris Trust
Eaton spins Mobility into Dana in a $5.1B Reverse Morris Trust — $1.1B cash, 50.1%/49.9% split, Q1 2027 close. What the structure does.
Veris Residential Goes Private in $3.5B Affinius Deal
Affinius Capital and Vista Hill Partners completed a $3.5B all-cash take-private of Veris Residential on May 27, paying $19/share — a 23.2% premium.
AST SpaceMobile Falls 18% on Blue Origin Pad Explosion
AST SpaceMobile (ASTS) shed nearly 18% Friday after a Blue Origin New Glenn engine test exploded at Cape Canaveral, rattling the entire space-stock complex.
Banks Push Fed to Codify Bowman Supervision Rollbacks
Wall Street wants the Fed to formally codify Vice Chair Bowman’s supervisory rollbacks before a future administration can undo them.