There certainly is enough cash sitting on the sidelines to make a viable IPO market.

Most companies will wait until the very last moment, even weeks, before they officially postpone. It's a lot of work gearing up for a company to go public.

It's the marginal deals which will be postponed.

If that's the case, the earlier we can do it after diagnosis the better.

The average international consumer is eating more expensively. With really good restaurants appearing at the higher end of the average price range, but still within reach, we're seeing that people are eating out more frequently as well.

The calendar is still pretty full, but the market is in a wait-and-see mode.