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The Monday Mix: Sept. 27 – Oct. 3, 2021

Top-of-mind headlines as we start the week:

S&P 500 earnings for 3rd quarter 2021 are expected to be +29.4% higher vs. same quarter last year, with the energy and materials sectors posting the highest growth rates.

Orders for US durable goods rose 1.8% in August, triple what was anticipated, driven by orders for airplanes and airplane parts.

China’s factory activity unexpectedly shrank in Sept., the first contraction since Feb. 2020, on higher materials costs and power shortages.

So far in 2021, there have been a record 770 US IPOs, vs. 10-year annual average of 205, and most IPOs (58%) are SPAC deals.

Banks have earned $3.6 billion this year issuing ESG-related bonds versus $1.6 billion for fossil fuel company debt.

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