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Bay Street’s big chill sets in as share sales crater, sapping fees from investment banks

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From January to May, the total amount of money raised in Canadian share sales dropped to $10.5-billion, down 57 per cent relative to the same period last year

One of Bay Street’s best-known revenue sources is quickly evaporating, with the total value of share sales plummeting 57 per cent so far in 2022 amid a global market sell-off and fears of economic stagnation.

This year, that floor is getting tested. From January through the end of May, the total amount of money raised in Canadian share sales has dropped to $10.5-billion, down 57 per cent relative to the same period last year, according to new data from TMX Group Ltd.

 

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