There has been a lot of angst as of late about whether the U.S. was losing its financial dominance. A huge issue is whether the IPO market has been harmed by Sarbanes-Oxley. Turns out that the pace of deals this year is off to a good start. In the usually quiet first quarter, deals hit a seven-year high: 64 deals for $12 billion, led by financial services firms. The Nasdaq beat the New York Stock Exchange in volume for the first time in three years by one measure. The Nasdaq raised $6 billion from 39 deals. The NYSE raised $4.7 billion from 11 deals.
Our take on this news: This is good news for the health of our economy and confidence in the equity markets.
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