See the Big Picture for Capital Markets in 2025
Big Picture for Capital Markets in 2025: Issuance rebound hinges on pace of rate cuts
Corporate debt issuance bounced back at full speed in 2024 driven by rising investor demand. Equity issuance has recovered more slowly with global IPO activity still sluggish, although stronger macro fundamentals and rate cuts would help unlock pent-up IPO pipelines and boost capital markets activity in 2025. The rise of Generative AI has initiated a capital expenditure cycle reminiscent of the internet boom in the 2000s.
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