**Robust IPO activity through September 2026, with 249 U.S. listings year-to-date, supports expectations for additional offerings before year-end despite a Q3 slowdown.** Recent pricing of deals such as Oura (targeting a ~$2.1 billion raise on September 30) and Accelevation, alongside a pipeline of 25+ active filings and scheduled debuts in October, reflects continued market access. Primary drivers include elevated equity valuations earlier in the year, AI-sector momentum, and strong post-IPO performance for select names, though tempered by 19-year highs in bond yields, renewed rate-hike concerns, and investor caution around AI spending. Key upcoming catalysts encompass potential mega-listings like Anthropic in Q4 and broader deal flow dependent on stabilizing Treasury yields and aftermarket returns. Trader consensus prices in high likelihood of further 2026 IPOs given the active backlog and supportive capital markets backdrop.