**Elevated Treasury yields near 19-year highs and recent equity market volatility have tempered IPO momentum in late 2026, even as a substantial pipeline of filings persists.** Through mid-September, 109 IPOs raised $146.5 billion, pacing toward the strongest year since 2021, though recent sessions saw sharp selloffs in semiconductors and risk assets that prompted postponements such as Oura’s $2.1 billion offering. Major AI-related candidates including Anthropic, which confidentially filed and targets pre-Thanksgiving marketing with potential trading before late November, and Nscale continue advancing amid selective investor demand favoring proven revenue stories over pure valuation multiples. Upcoming catalysts include additional Q4 pricings, FOMC policy signals affecting rate expectations, and any follow-through from large private placements or SPAC activity that could influence broader sentiment for listings before year-end. Trader consensus on Polymarket reflects this balance of pipeline strength against macro headwinds.