December’s market volatility created opportunities which contributed to January’s results, particularly on spreads that narrowed (including several which closed):
U.S. stocks started 2019 with the best January since 1987 and the best monthly gain since 2015. This sets up 2019 for a positive annual return based on historical data since 1936.
Worldwide deal activity totaled $4.0 trillion during 2018, an increase of 19% compared to 2017, and only the third year on record M&A has passed the $4 trillion milestone.
For most of the last decade we have lived in what has often been termed a “Goldilocks economy.” Much as the fair-haired, home-invading subject of the children’s story found one bowl of porridge to
Merger arbitrage performance in November was bolstered by deals that received key regulatory approvals, including “green lights” from the Chinese regulatory authority. Specifically: