SPAC roadblock - JPMorgan interns headed to the office - LatAm's booming bond market

Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:

• There's "congestion" in the PIPE market - here's what that means for SPACs.
• JPMorgan's summer interns for two key business lines will likely work in the office.
• Bankers at Goldman Sachs and Deutsche Bank explain why the Latin American bond market is booming.

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The SPAC M&A frenzy has finally reached its limits and a huge funding logjam is starting to form

PIPE, private investments in public equity, is a key piece of funding that SPAC sponsors sometimes rely on to raise extra capital in order to get transactions done. However, bankers and sponsors warn that PIPE funding has started to dry up in recent weeks.

Click here to read the entire story.

JPMorgan just told New York- and London-based investment-banking and sales and trading interns to get ready to head to the office for their summer programs

JPMorgan's incoming interns in two key business lines should prepare to head into the office. We've got the scoop on the bank's plans for New York- and London-based interns in its investment-banking and markets divisions. Read more here.

How bankers at Goldman, Deutsche Bank and more are gearing up for a busy April of emerging-market bond deals

Latin American bond issuers are expected to flood the market this month. Here's what else you need to know.

Odd lots:

Bankers Want Power Lunches and Less Machismo in New Office Era (Bloomberg)

After a Year of Remote Work, Institutional Investors Are Worried About Employee Burnout (Institutional Investor)

Share of black employees in senior US finance roles falls despite diversity efforts (FT)

We read all 323 pages of 23andMe's SPAC filing. Here are the 5 biggest obstacles it faces ahead of its public debut. (Insider)

SPACs are taking over the stock market. Here's an easy guide to the journey they take from start to finish. (Insider)

Family Offices Turn to Private Equity Firms in the Hunt for Talent (WSJ)

Compass just went public, putting CEO Robert Reffkin on a path to become America's youngest Black billionaire (Insider)