CFRA director of equity research Ken Leon joins Market Domination to discuss the state of investment banking and how these big banks may operate moving forward in current and future interest rate environments.
In fact, in about two years, uh they gave a forecast for net interest income that was above some estimates.So that's pretty good.Um The performance in the second quarter was like the first quarter. Uh I thought Bank of America underperformed compared to JP Morgan Goldman Sachs or Morgan Stanley today.Um when you were talking to your clients, how could you be wrong, Ken?Well, there's always respect, you know, we're all students of the market.
Um How sustainable do you think deal volumes are gonna be going into the second half of the year, particularly with the election coming up?It's a great question and, uh, we hit the trough or investment banking fees last year probably in July.Uh But saying that uh the first quarter, first half of this year, uh record results for debt cap, debt underwriting, but equity underwriting and IP OS um are still really the earning early endings of recovery.
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