July generally continued June’s downward trends, with U.S. total deal value falling 38% and U.S. strategic and sponsor deal values falling 24% and 54%, respectively. Similarly, global total deal value fell 13%, with global strategic and sponsor total deal values falling 2% and 30%, respectively. Both U.S. and global deal counts were flat overall, except that sponsor deal numbers increased 23% in the U.S and 8% globally.