Deal volumes slowing back down to normal?

Was catching up with my MD today and he mentioned that, based on what my group and bank as a whole is seeing, looks like we may be returning to a more normal deal flow and not the insane levels of the past year. He said based on their prospecting work and pitches in the pipeline, it’s looking more like 2019 than 2021. Analysts at my bank still swamped currently, but he said he thinks we’ll see things slow a bit in next few months as current deals wrap up.

Anyone heard/seeing similar? It kind of makes sense to me, as anyone who was even close to being ready to sell a business has sold it in the last year, so eventually there has to be a drop off. Also lots of government uncertainty surrounding tax stuff.

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