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June 30, 2026
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@ a global market level: an overall poor economy (falling market prices, high unemployment, etc.) generally mean less i-banking deal flow as companies won't be interested in spending cash to aquire or risk value by going public or issuing more shares when markets are shit. Also, when the economy is bad, less companies are started and there isn't much activity for banks focused on growth capital. General declines in creditworthiness can lead to increases in restructuring dealflow, though and some banks do get business from that.
Sounds like the question asked on JPM's IBD online application...
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