When

Deals by date, against the market

Each dot is a deal on its announcement date, one row per instrument; a filled dot carries a committed amount. Drag the orange handle to replay the ledger as of any date. Beneath it, four market series are indexed to 100 on the first deal date, with every announcement marked along the axis. The panel places dates side by side and makes no claim about cause.

Key takeaways

• The ledger runs from 23 January 2023 to 1 October 2026. Only 18 of its 106 deals fall before 2025.
• Equity is the one instrument present throughout: 9 rounds before 2025 and 25 since. Compute commitments and debt fill the crowded rows from mid-2025.
• Toggle a series or move the base date to re-index the market panel. The deal markers stay put: they are dates, not prices.