These numbers are from Deutsche Bank, but here’s a few points I would add:
1) Activity increased across all ECM formats, except blocks. Blocks – often secondary sponsor selldowns – traded poorly and private equity firms also completed the monetization of many of their public holdings (Sabre, Norwegian Cruise Line and Hilton Worldwide are three that come to mind).
2) Though tech and healthcare dominated deal activity, the sector that really saw a big jump in deal flow was utilities. Somewhat counter-intuitively, corporate tax reform crimping the balance sheets/credit ratings of regulated utility owners, requiring them to raise equity, drove much of this activity.
3) The IPO backlog is pretty light at this point and may stay that way at the start of 2019 (not least because of the government shutdown), though it should really fire up in March/April when Uber/Lyft come to market.
4) REITs, energy and industrials were three sectors that saw issuance fall in 2018. Leveraged IPOs, often industrial companies, fell out of favor following the ADT disaster in January.