Wall Street investment banks have reported a record-breaking quarter, driven by a surge in trading activity around the U.S. election and an uptick in investment banking deals. JPMorgan Chase’s traders saw a 21% revenue increase to $7 billion in the fourth quarter. Goldman Sachs’ equities business generated a record $13.4 billion for the full year. The Federal Reserve’s easing mode and the election of Donald Trump have boosted bank performance, with banks like JPMorgan, Goldman Sachs, and Morgan Stanley exceeding expectations. Morgan Stanley’s CEO, Ted Pick, highlighted a strong deal pipeline, the strongest in 5 to 10 years, possibly even longer. Capital markets activity, including debt and equity issuance, rose by 25% last year from 2023 levels. The IPO market, another key driver of value for Wall Street, is also expected to pick up, with a significant backlog of deals and increased CEO confidence.
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