Q2 curtain raisers forecast investment banking gloom

A volatile June will dampen what was a sunny start to the second quarter for investment banks

Investment banks’ revenues for the second quarter of this year are expected to fall as a volatile June takes the shine off an otherwise sunny quarter, banks analysts at JP Morgan and Berenberg Bank wrote this morning.

Pure investment banking revenues - comprising traditional advisory businesses - are expected to decline 4% year-on-year, according to Berenberg Bank, and 7% quarter-on-quarter, according to JP Morgan.

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