Elevated Treasury yields near 19-year highs have compressed growth valuations and prompted some postponements, yet the IPO pipeline remains active into late 2026. Multiple companies filed or amended S-1s in early October, including data-center and biotech issuers, while Jio Platforms targets a late-October launch in India and smaller U.S. deals such as TRexBio price imminently. Renaissance Capital projects 40–70 additional sizable offerings by year-end, driven by AI infrastructure demand and prior strong first-half proceeds exceeding $114 billion. Key near-term catalysts include November filings from Anthropic and others alongside any FOMC signals on rates that could ease or tighten discount rates.