Bankers Aren't Letting the Iran War Get in the Way of a Deal |
Financial markets have been relatively unaffected by the costly and senseless war the US and Israel are waging against Iran. But what’s really surprising is the ongoing boom in investment banking. Dealmaking and fundraising activities that are usually most sensitive to worsening sentiment and increased volatility are about to close a strong first quarter — but there are plenty of warning signs that things could come to a grinding halt.
Persistently high energy prices, if the White House fails to find a quick route out of the Middle East, would weigh on many economies already facing slowing growth and softening labor markets. That would add to concerns about rising defaults in private credit and the disruptive threat of artificial intelligence, which have been causing wild swings in the fortunes of some companies and fund managers.