JPMorgan - Investment banking revenues may decline this quarter

JPMorgan Chase

Global investment banking revenues may decline 9% this quarter on low volatility and a selloff of high-yield debt, analysts at JPMorgan Chase said.

Bloomberg News reports that the credit selloff is so far “limited to specific names" such as Altice NV, analysts led by Kian Abouhossein said in a note to clients. “We would be concerned if there were a more sustained credit selloff."

Revenues from trading fixed income, currencies and commodities are expected to decline 13% in the three months through December versus the same period last year, while banks’ equities businesses may drop 10%, the analysts said. Banks with more exposure to equities will be preferred, they said. Overall, investment banking revenues are expected to rise three percent next year, they said.

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Investment Bank Revenue May Decline, JPMorgan Analysts Say

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