Preamble to a peak in equities

The quote below doesn’t signify a peak of equity markets yet but it is a preamble.

A crescendo in IPO activity is required for private equity funds when selling/offering their investments to the thirsty public.

“In 2023, private equity groups saw their stockpile of unsold investments surpass a record $3tn. Consultancy Bain & Co has warned of a “towering backlog” of companies that must be sold so cash can be returned to investors……..”

https://www.ft.com/content/e1c1bfc0-ed89-47ac-be6f-f5775e9a6f4d

April 12, 2024