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.
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'.
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