All Wilmington Wire Posts

Market Whiplash or Durable Rotation?

Phil Ravenscroft and Meghan Shue |
Wilmington Wire
stock market, economic graph with diagrams, business and financial concepts and reports, abstract blue technology communication concept background

March 10, 2021—The overall stock market has been treading water for a few weeks, with the S&P 500 suffering modest setbacks of 3%–5% since the start of the year (and no pullback of 10% or more since the March 2020 crash). Overall market volatility has picked up with fits and starts but has averaged much less than in 2020.

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Special Purpose Acquisition Companies—Investment or SPACulation?

Jordan Strauss, CFA |
Wilmington Wire

March 8, 2021— Special purpose acquisition companies (SPACs) have been around for decades but gained wide recognition in 2020 as an increasingly popular, alternative method of going public following a surge in initial public offering (IPO) and merger activity. In 2020, 248 new SPACs came to market, encompassing 53% of all IPOs for the year, and raised a cumulative $83 billion—more than five times 2019’s volume (Figure 1).

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Emerging Markets Dollar Bonds—When to Invest?

Clement K. Miller, CFA |
Wilmington Wire
Finance investment stock market chart graph currency exchange global business fintech

++The World map texture derived from public domain NASA: http://visibleearth.nasa.gov.
Traced in Illustrator. File created on November 29 2018++

March 1, 2021—Some of our advisors and clients have asked whether the Investment Committee (IC) might make a tactical allocation to emerging markets U.S. dollar (EM USD) bonds. No doubt these questions are motivated by the fact that EM USD bonds offer higher yields than U.S. investment-grade bonds and involve return streams that are only partly correlated to those of other asset classes.

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