Deals
Stock Sales Suffer Worst First Quarter Since 2009 on Rates, SVB
- US IPOs and secondary offerings raised $23 billion in quarter
- Rates uncertainty, volatility events threaten future activity
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US equity capital markets are having the slowest start to a year since 2009, and dealmakers fear a rebound is nowhere near.
Initial public offerings and secondary stock offerings bore the brunt of first-quarter recession concerns stemming from the Federal Reserve’s aggressive rate-hike cycle and the flight to safety over fears about the banking system after the collapse of Silicon Valley Bank. This comes on the heels of a historic slowdown in 2022.