Underwriting in Investment Banking: Market Trends, Risk Assessment and the Changing Deal Environment in 2026
Underwriting in Investment Banking: Market Trends, Risk Assessment and the Changing Deal Environment in 2026 By: Prabhash Choudhary October 15, 2026 Share: Investment banking capital-markets activity improved in the first half of 2026, although the recovery remained unusually concentrated. LSEG reported that the total value of global M&A transactions reached a record US$2.85 trillion in the first half of 2026, while transaction volume fell to a six-year low. In the United States, PwC reported that M&A value reached US$1.2 trillion in the first five months of the year, nearly double the comparable 2025 figure, even as transaction volume declined 4%. These patterns have changed the approach to underwriting in investment banking . Thank you for reading this post, don't forget to subscribe! Larger transactions, complex financing structures, volatile interest rates, and divergent sector expectations require underwriting teams to assess not only whether a transaction is viab...