Carlsquare weekly market letter: Is the IPO market opening up?

Read the weekly market letter here:

• More and more signs tell us that the IPO market is back. The IPO on the UK chip maker Arm, which will start to trade on Thursday, 14 September, maybe a bell weather. It is oversubscribed 10x times, and the first day of trading will be very closely watched.
• Overall, we hear more and more stories about companies starting their IPO processes again. It will, however, start with the mid-sized and larger companies before we can see a return for smaller companies. The risk appetite is lower in the smaller segment as many companies still fight to place secondary’s in the market.
• There is a focus on inflation today. S&P 500 may have created a wedge.
• As seen from the chart below, there is a high correlation between S&P 500 (overall sentiment) and the IPO index.

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