Banks Offer Hope for Trading Turnaround After Six-Month Slump
- Executives point to strong start to April, looming IPOs
- First quarter featured another drop in trading, banking fees
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U.S. banks think a Wall Street revival is coming.
Executives cited a good start to April and the expectation of several large initial public offerings in coming months to offer hope after a rough start to 2019 for their capital-markets businesses. The five largest Wall Street firms’ trading and investment banking revenue both fell in back-to-back quarters, the first time that’s happened in more than six years.