Is this the high water mark for deals?

We've noted the torrid pace of deals so far this year. A simple way to look at it: The value of announced deals worldwide rose to $2.88 trillion in the first half of 2007, up 55 percent from a year ago, according to Deallogic. The source of the surge--obviously--was financial sponsor-driven deals, which more than doubled. The league tables? The predictable names. Goldman Sachs ranked as the top advisor, working on 229 deals worth about $830 billion. It generated $1.2 billion in fees. The whole industry generated about $11.2 billion in fees. Citigroup soared to No. 2, continuing a stellar run that has drawn notice. (See the next item). Morgan Stanley, JPMorgan Chase and Lehman Brothers followed. The question remains: Can it last? We'll have to see where rates trend and how the markets react. Most assume the industry is in for a gut check.

For more:
- here's a MarketWatch article