IB Recruiting in London is Completely Dead?

I just started my 2nd year as an Analyst at a pretty small, unknown boutique. I was hoping to start looking at some lateral options, especially after seeing older colleagues leave for MM / EB-tier banks during COVID. But right now, I'm seeing absolutely nothing get posted on Linkedin - it's a fucking wasteland out there... My Linkedin alert for "Investment Banking Analyst" roles returns only postings for Credit Analyst, Financial Cybersecurity, FP&A roles?... And my contacts are saying they aren't seeing any recruiting either.

I know I'm supposed to go through recruiters, but so far they aren't paying attention to me (I'm from a shitty boutique, I get it...). But it really makes me wonder if every IB on the London scene is on an indefinite hiring freeze? Is the recession already here?