This podcast episode discusses the decline in mergers and acquisitions (M&A) activity in 2023, despite a strong year for economic growth and the stock market. However, the speakers believe that this trend is about to change due to both near-term and longer-term reasons. Near-term, they point to improving corporate confidence as a key factor. Longer-term, they believe that the low level of M&A activity in recent years has created pent-up demand for deals. As a result, they predict that M&A activity will pick up in the coming months and years.