Finance
Wall Street Banks See Dealmaking Comeback on Fed Pivot
- ‘I’m pretty optimistic,’ Goldman CEO Solomon said in earnings
- Morgan Stanley, Goldman tout asset, wealth management units
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Wall Street chiefs are finally calling the bottom on the dealmaking drought that has plagued their earnings for the past two years.
Executives at the biggest banks are expecting a pickup in the coming months, tied to the Federal Reserve’s apparent pivot away from two years of interest-rate hikes. As they wrapped up the worst year for investment-banking revenue since 2012, Wall Street’s top brass outlined their expectations for a turnaround — at least at some point.