Wall Street’s Cloudy Quarter Has Some Rays of Sunshine | EUROtoday

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Jan. 16, 2024 12:49 pm ET

Wall Street hardly ended final 12 months with a bang. But given the challenges dealing with the opposite main enterprise traces of the most important banks, from lending to wealth administration, buying and selling and funding banking would possibly show to be their finest wager in 2024.

Across the 5 largest Wall Street megabanks, investment-banking charges within the fourth quarter—from issuance of shares and bonds, plus advising on mergers and acquisitions—had been up about 3% year-over-year. The “green shoots” that had been talked up after third-quarter outcomes stay scarce, because the market enters a 12 months of uncertainty for politics, rates of interest and financial progress.

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