Wall Street is praying firms will start going public again
The IPO market is on its longest cold streak since 1980
Can you feel the chill? It is bone-deep, now. In 2021 capital markets were searing hot. On average, at least one new firm went public every working day. But financial districts today are icy. For two long years private companies have spurned public markets, as rising interest rates dashed lofty valuations and stock prices vacillated.
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This article appeared in the Finance & economics section of the print edition under the headline “The bleak midwinter”
Finance & economics January 20th 2024
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From the January 20th 2024 edition
Discover stories from this section and more in the list of contents
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Canada and Mexico look likely to suffer
How Trump, Starmer and Macron can avoid a debt crunch
With deficits soaring, their finance ministers will have to be smart
What Scott Bessent’s appointment means for the Trump administration
The president-elect’s nominee for treasury secretary faces a gruelling job
What Donald Trump and Bernie Sanders get wrong about credit cards
Forget interest rates. Rewards are the real problem
Computers unleashed economic growth. Will artificial intelligence?
Two years after ChatGPT-3.5 arrived, progress has been slower than expected
Should investors just give up on stocks outside America?
No, but it is getting a lot harder to keep the faith