The early stages of a long-awaited recovery in investment banking fees is set to boost Wall Street lenders when they report second-quarter earnings starting this week, with mergers and debt deals picking back up after a lacklustre two years.
Analysts expect investment banking revenues at JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America and Citigroup will on average rise more than 30 per cent from a year earlier during the second quarter, according to estimates compiled by Bloomberg.
“You’re beginning to see a nice rebound in investment banking activity,” said Oppenheimer analyst Chris Kotowski.
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