RT Paul Atkins (@SECPaulSAtkins)With yesterday’s listing of MapLight, the IPO market is still open for business – companies are going public during the government shutdown using the method Congress originally intended. https://t.co/BLXkwZ9roW ...

Joining me now to discuss is JP Morgan's global chairman of investment banking and capital markets, Liz Meyers. Liz, thanks for being here. Yeah, >> great to be here.>> So, we saw the IPO window opening and then of course over the last 28 days, we've had this government shutdown. So, how would you characterize the pipeline now and just the overall sentiment around the capital markets. Well, I would say notwithstanding the this brief pause in things, the IPO market's been really vibrant and I think what's be ...

Core Insights - HSBC Holdings is set to announce its third-quarter 2025 results, with expectations of a year-over-year decline in revenues and earnings [1][9] - The consensus estimate for earnings is $1.65 per share, reflecting a 2.9% decrease from the previous year, while sales are estimated at $16.83 billion, indicating a roughly 1% decline [2] Investment Banking Performance - Investment banking revenues are anticipated to have increased due to a rebound in global mergers and acquisitions, driven by a strong U.S. economy and favorable regulatory conditions [3][4] - The IPO market showed significant growth in the third quarter, contributing to increased equity and debt underwriting fees for HSBC [4] Trading Revenues - Client activity and market volatility were robust, influenced by uncertainties regarding tariffs and Federal Reserve policy changes, leading to solid performance in HSBC's trading business [5] Interest Income - Interest income is expected to have improved slightly, supported by a mixed approach to interest rate adjustments by central banks and a modest rise in loan demand [6][7] Expense Management - Despite HSBC's historical ability to control expenses, overall costs are projected to be high due to investments in market share growth and digital capabilities, alongside an organizational overhaul [7] Litigation Impact - HSBC will recognize a $1.1 billion provision related to litigation from the Luxembourg Madoff fraud, which is expected to affect the bank's common equity tier 1 ratio by approximately 15 basis points [9][10]

Wall Street’s biggest banks are cashing in on a revived IPO market, with rising stock underwriting driving double-digit gains in advisory revenue https://t.co/0pDp9Synp0 ...

IPO Market & Government Shutdown Impact - Government shutdown poses a threat to the IPO market recovery due to SEC operating with reduced staff [1] - SEC operating with only 10% of its staff, approximately 400 people, will delay registration statement reviews [3] - Washington's actions, like government shutdowns, contribute to a "start and stop" environment for companies going public [4] IPO Process & Timing - IPO timing depends on where the company is in the IPO process [2][3] - Companies with approved registration statements have flexibility in timing market entry [2] - Companies in the comment process with the SEC or those yet to file will face delays [3] - There is no perfect time to go to market [6] Company Considerations - Companies should assess their timing needs and flexibility when considering an IPO [5] - Mass layoffs following a shutdown raise questions about ideal IPO timing [6]

Europe's IPO market seems to be turning a corner, and bankers say excitement is building for bigger deals https://t.co/vZQWHYotXk ...

Core Viewpoint - The IPO market is described as "traditionally very cyclical" by Gareth McCartney, indicating its historical fluctuations and trends [1] - There is a robust IPO pipeline, suggesting a healthy environment for initial public offerings [1] - Multiple themes are available for investors to explore, indicating diverse opportunities within the current market landscape [1]

IPO Market Overview - The IPO market is showing signs of attractiveness with several potentially profitable companies going public [2][3] - The market is being discerning, indicating a healthy correction mechanism [3][5] - Not all IPOs experience huge run-ups, some open below their initial price [4] Company Specifics - Pattern Group, an e-commerce firm focused on reselling goods on marketplaces, is celebrating an IPO [1] - StubHub's performance is noted as "not good," trading below its offering price [3][5] Market Sentiment - The market's discerning nature is viewed as a positive sign, suggesting a balanced approach to valuing new companies [5] - Run-ups are observed on day one, followed by a subsequent decrease, though remaining above the offering price [4]

Market Overview - The current IPO market is showing healthy performance, with a more stable environment compared to 2021, indicating a positive outlook for the market [1][2] - The anticipation of Federal Reserve rate cuts is contributing to investor confidence, suggesting a favorable climate for IPOs [2][3] Federal Reserve Insights - The Federal Reserve is expected to cut rates by at least 25 basis points, with indications that this is a pivotal moment for monetary policy [3][4] - There is a belief that the Fed will remain data-driven in its approach, avoiding explicit signals about future rate cuts [5][7] - Inflation remains a concern, but it appears to be reasonably contained, allowing the Fed to focus on economic growth without rushing into aggressive rate cuts [5][10] Economic Indicators - Recent job adjustments, such as the 900,000 figure, are seen as a signal that the economy is approaching a point where rate cuts may be appropriate [4] - The flattening of the yield curve is viewed positively, as it suggests a healthier alignment of mortgage rates and overall economic stability [9][10] - The focus is shifting towards ensuring economic growth and avoiding a recession, with previous fears of an engineered recession not materializing [11]

IPO Market Activity - The IPO market experienced a surge this week, marking the busiest period since 2021 [1] - Six deals successfully raised over $4 billion [1]