Reported about 1 month ago
In the third quarter, major banks like Goldman Sachs, Bank of America, and Citigroup reported significant rebounds, spurred by increased corporate activity in debt issuance and mergers. Goldman Sachs saw a 20% rise in investment banking fees, while Bank of America experienced its highest trading revenue in over a decade. The sector's optimism stems from the start of an interest rate-cutting cycle by the Federal Reserve, with executives expressing confidence in future economic activity despite geopolitical uncertainties and upcoming elections.
Source: YAHOO