December 2023 Middle Market Monitor

Mirus is pleased to share our thoughts on recent market activity. After three consecutive months of decline, the S&P 500 rose 8.9% in November, marking one of its best monthly performances in history amidst signs that inflation is cooling. The Consumer Price Index was essentially flat, the unemployment rate fell slightly, the Consumer Confidence Index increased, and the National Home Price Index rose. Total middle market M&A activity decreased slightly, while cross-border transactions slowed and leveraged buyouts increased slightly, on a month-over-month basis.