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Earnings growth of mid-market private companies surged more than 16% in the first two months of the year, but there are concerns that fiscal and monetary stimulus in the US are creating 'very substantial risks'.
As vaccination programmes began to make an impact on covid, confidence returned to the deal market. However, economic challenges and the ending of liquidity schemes mean predicting the future is not easy, write Jacco Brouwer and Greg Forde of Duff & Phelps.

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