It's probably not a stunning revelation that an increase in IPO filings historically portends an improving economy. Late 2009 saw a strong uptick, for instance, which was followed by a great bull market in 2010, while the stagflation of the mid 1970s meant barely any IPOs saw daylight, especially during the dark days between 1974 and 1976.
So what to make of the latest IPO data? Ernst & Young reports that IPO withdrawals and delays have hit a three-year high, with 11 companies opting not to go public at all and 15 delaying their IPOs. That doesn't include a high-profile IPO from The Williams Companies (WMB) of its exploration unit that was called off yesterday. As you may recall, the last time so many IPOs were being spiked things weren't so great for the economy.
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