IPO market belies larger market naysayers

To hear Mayor Bloomberg and others tell the story, New York City is on the way down as a financial power, and the U.S. capital markets are in danger of being eclipsed. We've been skeptical of that, and it's good to see others striking the same chord. Fortune notes that for all their concerns the doomsayers seem to disregard what is shaping up as a strong IPO market. Last year, 56 companies backed by VCs went public, raising $3.72 billion. That the largest amount since 2004. All 189 IPOs last year raised nearly $43 billion, the most ever. The second best year was 1997, when nearly 560 offerings took place. The takeaway is that we're seeing higher quality deals raising larger sums, and that is a sign of strength. Look for a strong IPO market this year, even as other financial centers, notably London, show some growing pains.

For more:
- here's the article from CNNmoney.com