The list of barriers to deal work, from inflation and high-interest rates to geopolitical conflict, may have gotten a little smaller for a change this week, when the White House and House Republican leadership reached a deal over the weekend to suspend the U.S. debt limit—a course of action that, if completed, could help ease deal flow in the coming months.

"We are seeing clients working hard to get deals done, but there are a number of obstacles out there and you never know which one might be the straw that breaks the camel's back," Michael Diz, co-chair of the M&A practice at Debevoise & Plimpton, said in an email. "Avoiding a debt ceiling debacle removed one potential straw."