July 2020: This month, as IPOs abound in the US, I examine the outlook for valuations in the face of seemingly ever-rising stock markets, with some surprising conclusions. I also give the usual deal stats which show continuing strength in growth capital and some green shoots in mid-market PE and M&A activity. On trading, the news remains good, but our four resilience measures will be even more crucial as the economic recession starts to bite.
Version: 20240731