(Bloomberg) -- The global market for initial public offerings is showing signs of life as a rebound in the stock market has emboldened companies to test investor appetite for new listings, particularly in Asia. Issuers from Hong Kong to Milan saw a window of opportunity with the decline in market volatility, according to analysts. “The IPO market is coming back gradually and slowly. Europe Wakes UpEurope’s IPO market has been moribund, with 2023 activity down about 12% from the same period last year when Russia’s invasion of Ukraine brought listings to a screeching halt. Evidence is mounting the US may be headed toward a recession and the Federal Reserve’s path forward on interest rates remains unclear.