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Wall Street’s biggest banks are set for their strongest investment banking quarter since 2021, with analysts projecting $9.1bn in Q3 advisory and underwriting revenue across JPMorgan, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley, up 13% year on year and 50% from 2023’s lows, though still below the 2021 peak. Optimism has grown as the Trump administration signals lighter oversight and consolidation-friendly policies, while AI investment needs add momentum. Trading remains resilient, and overall profits are seen up about 8%. Still, consumer credit is under scrutiny after a subprime auto lender’s collapse.

Prepared by Christopher Adams and reviewed by editorial team.