Don’t be fooled by the third quarter rebound in Wall Street trading revenues. Investment banks are still on course for a lousy year.
While third-quarter revenues were up 14% from the year-ago period, according to new data from Coalition, year-to-date performance was down 7%, and full year 2016 revenues are expected to decrease for the fourth year in a row.
One bright spot is fixed income, currencies, and commodities revenues, which were up 36% in the third quarter, 2% year-to-date, and are expected to be up 5% total by the end of the year.
Have a look: