October 2020 Middle Market Monitor

Economic indicators were largely positive and indicative of ongoing recovery. The unemployment rate continued to fall while the Consumer Confidence Index and Consumer Price Index both rose. The public markets saw a decline following five months of consecutive gains with the S&P 500 and Dow Jones Industrial Average posting losses of 3.9% and 2.3% respectively. M&A activity saw strong increases, particularly cross-border transactions and leveraged buyouts, approaching pre-COVID-19 levels.