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Big Banks Set to Post Weaker Deal Revenue Amid Ukraine Chaos

  • Underwriting headwinds also seen dragging revenue lower
  • Lending business might finally show a long-awaited rebound
The Manhattan skyline in a Brooklyn neighborhood.

The Manhattan skyline in a Brooklyn neighborhood.

Photographer: Spencer Platt/Getty Images

Wall Street’s dealmaking boom came to an abrupt halt amid the war in Ukraine and a global shift toward rising interest rates, leaving big banks set to post a quarterly slump in investment-banking revenue.

The record merger-and-acquisition pipelines bank executives touted at the start of 2022 are still on the horizon, but have been put on the back burner amid gyrating markets and rampant inflation, according to Barclays Plc analyst Jason Goldberg.