ECM bankers pray macro risk won’t disrupt deals

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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