
Investment banking is on course to extend a record streak of underperformance, supplying less than a quarter of Wall Street revenues at the biggest US banks for the 14th quarter in a row.
Traders are due to come to the rescue of their advisory colleagues once again when the banks report second-quarter results next week, with total trading revenues at the five largest Wall Street banks forecast to be $31bn — more than three times the figure for investment banking.
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