Oaktree Capital's languishing IPO did little to help The Carlyle Group, another private equity underwriter (PEU) with its plans to go public. JP Morgan is one of three lead investment banks for Carlyle's IPO. ZeroHedge reported:
For those who believe in this sort of thing, here is JPM's Chief Technician Michael Krauss, who says that "The “one way” market rally since Dec-Jan is over. Expect weeks, if not months of lateral movement." Well, there's that. Then there is the only thing that matters in "markets" these days - which way Ben Bernanke sneezes. Everything else is meaningless: McClellan oscillators, Ichimoku clouds, RSIs, oh and of course, fundamentals.
This may explain why Carlyle added 18 other investment banks to push their IPO, which grew from $100 million to a hoped for $1 billion. That's a pile of PEU to push.