ECM bankers pray macro risk won’t disrupt deals

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By Sam Kerr
06 Aug 2020

Equity capital markets bankers are hoping that global markets maintain the extraordinary bullishness of the last few weeks in what should prove a busy final quarter of the year for issuance. But an unholy trinity of risks are causing concern, particularly for IPOs.

Stock markets seem unconcerned by signs of a global resurgence in Covid-19 infections, increasingly hostile relations between the US and China and a US presidential election that looks likely to be one of the ugliest in recent history.

For now, equities continue their extraordinary run since the ...

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