The Market Feels Like it is Waiting for an Inevitable Recession

Gabelli's column

Date:

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  1. "The first quarter earnings season concluded and while the “better than feared” label can describe the past few earnings seasons quite well, the general increase to 2023 guidance is an encouraging sign for companies overall."
  2. "May was a challenging month for merger arbitrage investing as First Horizon (FHN) and Toronto-Dominion Bank (TD) walked away from their deal, and the U.S. FTC sued to block Amgen’s (AMGN) $27 billion acquisition of Horizon Therapeutics (HZNP)."
  3. "The convertible market was essentially flat in May, as fears of a recession and the US debt ceiling impasse weighed on the market while mixed economic data and company guidance gave some optimistic investors hope."