Invisible IPOs

The combination of high inflation, rising rates, and a European war has frozen IPOs. YTD, only $5 billion has been raised, a year ago the amount raised exceeded $100 billion, and on average going back to 1995 the amount raised is $33 billion. To wit, it has been 109 days since a traditional IPO raised more than $25 million, eclipsing the previous dry spell of 103 days set in 2008.