Mergers and acquisitions bankers regain their footing in 2024 and are now waiting to see whether Donald Trump's second term will boost or hinder the fledgling recovery. Global deal volumes have risen 16 per cent to $3.10 trillion this year as central banks begin to cut interest rates, according to figures. "The great picture for 2025 is pretty much off the table," said Dan Grabos, head of mergers and acquisitions in the Americas at Barclays in New York. "With the US election behind us, there is broad optimism that we will be in a growth-friendly, deregulated environment. I think we will continue to see deals of all types - from big deals over $10 billion to mid-sized activity."