U.S. IPOs Hit $251B First-Half Record, Pacing for 2021 Beat
U.S. issuers raised $251B through June 26 — the biggest H1 on record — led by SpaceX’s $86.2B IPO and Alphabet’s $85B AI raise. Inside the numbers.
capital markets
Alan Greenspan, Fed Chair From 1987 to 2006, Has Died
Alan Greenspan, the Fed’s 13th chair who steered policy through the 1987 crash, dot-com bubble and 1% rates, has died, the central bank said.
Securitize Closes Cantor SPAC; SECZ Trades on NYSE July 2
Tokenization platform Securitize is wrapping its merger with Cantor Equity Partners II, raising about $400M and listing on the NYSE under SECZ on July 2.
SpaceX Prices $25B Inaugural Bond on $89B in Orders
SpaceX sold $25B across five tranches in its first-ever bond sale, drawing nearly $89B in orders and tightening spreads 25 bps from talk.
May PCE Hits 4.1%, Highest Since 2023; Hike Odds Jump to 68%
Headline PCE jumped to 4.1% YoY in May, core to 3.4%. September rate-hike odds surged to ~68% from 29% a week ago as Treasury yields wobbled.
Fed’s Post-QT Pivot: +$275B Treasuries, -$191B MBS YoY
Six months after the Fed ended balance sheet runoff, its portfolio shows a clean pivot: Treasury holdings up $275B YoY, agency MBS down $191B.
All 32 Banks Pass Fed 2026 Stress Test in $708B Scenario
Fed’s 2026 DFAST: all 32 large U.S. banks would survive a severe recession, absorbing $708B in losses while staying above CET1 minimums. Key numbers inside.
SK Hynix Plans Record $29B Nasdaq ADR Listing in July
SK Hynix will raise up to $29.43B via a Nasdaq ADR listing on July 10, eclipsing Alibaba’s 2014 NYC debut as the largest foreign-issuer ADR ever.
Apollo, Morgan Stanley Gate Funds as Private Credit Exits Hit 17%
Apollo capped Q2 redemptions at its $26B Debt Solutions BDC after 16.8% requested, while Morgan Stanley’s $7B North Haven fund gated at 5% on 11.6% requests.
30-Year Yield Near 5% as Fed Holds and Hike Bets Rise
The 30-year Treasury yield is at 4.94% as the Fed holds at 3.50-3.75% and nine officials pencil in 2026 rate hikes. What it means for markets.