Wall Street Seen Leaning on Dealmakers as Trading Surge Ebbs
- SPACS probably fueled record equity underwriting last quarter
- Question is whether investment-banking boom can be sustained
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Move over traders, it’s dealmakers’ time to shine.
When Wall Street’s biggest banks begin reporting first-quarter earnings on Wednesday, they’re expected to post a 42% surge in investment-banking fees. With last year’s record trading bonanza now on the wane, dealmaking and a flood of reserve releases probably fueled a doubling of profits for the group, based on analysts’ estimates.