Wall Street Trading Desks Defying Curse

Wall Street firms, buoyed by record stock-market prices and high-yield bond issuance, probably will report a jump in second-quarter trading and investment-banking revenue from the same period a year ago.

Bloomberg reports that the improvement is helping propel bank stocks to their best first half in 16 years as Wall Street looks for a recovery in trading, underwriting and advisory work.

Each of the past three years featured a second-quarter disruption from global events such as the European debt crisis that presaged a weaker second half after a promising start.

'The lack of a major negative event is definitely helpful, but on top of that there has been more optimism in April and May', said Richard Staite, an analyst in London with Atlantic Equities LLP. 'A lot of analysts will look to revise their second-quarter numbers as we approach the quarter-end, and I think those will be positive revisions'.

Hit the link below to access the complete Bloomberg article:

Wall Street Trading Desks Defying Second-Quarter Curse

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images: © Emmanuel Huybrechts, © Loren Javier

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