The Globe and Mail reports in its Thursday edition that deal-making all but dried up in Canada during the first three months of 2024, despite hot stock markets and a rebound in mergers and acquisitions globally. The Globe's Jameson Berkow writes that M&A involving Canadian businesses amounted to $28.1-billion during the first quarter, according to data from financial data service Refinitiv (all figures U.S.). It marks a 23-per-cent decline from the same period in 2023 and nearly 55 per cent below the 10-year first-quarter average of $62.1-billion. Stock sales amounted to nearly $5-billion in the first quarter. That is less than half the 10-year average of $10.1-billion, but a rebound from the extremely low level of $1.9-billion in the first quarter last year. There was a glimmer of optimism in the debt market, however, as businesses raised $21.4-billion through deals during the first quarter -- a 35-per-cent increase from the start of 2023, and more than 28 per cent above the 10-year first-quarter average. JPMorgan Canada's David Rawling says expectations are that deal-making will pick back up later this year if recession fears continue to diminish.