The Globe and Mail reports in its Thursday edition that the U.S. government shutdown threatens to stall the long-awaited comeback of initial public offerings, just as strong investor demand and successful debuts had breathed life back into new listings. A Reuters dispatch to The Globe says the U.S. government shut down much of its operations on Wednesday as deep partisan divisions prevented Congress and the White House from reaching a funding deal. With the Securities and Exchange Commission running only essential functions on a skeleton staff, the agency will stop processing IPO paperwork, leaving companies primed for Wall Street debuts in limbo. The fall window has been gathering momentum, with a wave of successful debuts, raising hopes that 2025 could be a breakout year for IPOs after high interest rates and volatility stalled the market for nearly three years. A shutdown means no prospectus reviews, no comments cleared and no green lights for going public. IPOs have raised $52.94-billion (U.S.) from 263 listings as of Sept. 29, the highest since 2021. History shows that listings are likely to bounce back, especially given the strong aftermarket performance that IPOs have seen over the past 12 months.