The first half of 2024 saw strong performance in public equity markets, with significant gains in the S&P 500 and Nasdaq 100. However, the latter half faces challenges due to potential election-induced market volatility and increasing global government debt, now at $97 trillion. U.S. national debt is rising rapidly, with projections of $56 trillion by 2034. Liquidity remains a key issue in private equity and venture capital due to prolonged depressed exit activity and weaker IPO and M&A markets, despite a recent uptick in mega transactions and debt refinancings. Investor sentiment is cautious, prioritizing safer assets amid a complex financial landscape.
