The Globe and Mail reports in its Wednesday edition that Bay Street bounced back in 2025, with stock sales, corporate borrowing levels, and merger and acquisitions all finishing at multiyear highs. The Globe's Jameson Berkow writes that while more than $303-billion (U.S.) worth of corporate takeovers involving Canadian companies captured most of the headlines, the resurgence of Canada's long moribund market for raising money by issuing new shares was the unsung success story of the year. Canadian public companies issued a combined $31.4-billion in new shares in 2025, according to LSEG Data & Analytics. That is more than double the $15.5-billion worth of stock issued in 2024 and just 2 per cent shy of average equity issuance levels over the previous 10 years. Considering that as recently as the third quarter of 2024 stock sales hit a record low for three-month periods since at least 1998, returning to historical averages one year later represents a remarkably rapid recovery. "The global growth narrative, strong equity and commodity performance and robust sentiment drove solid issuance in 2025," said Jackie Nixon, head of Canadian equity capital markets at RBC, the top investment bank for equity issuance last year.