Wall Avenue’s Cloudy Quarter Has Some Rays of Sunshine

Wall Avenue hardly ended final yr with a bang. However given the challenges going through the opposite main enterprise traces of the most important banks, from lending to wealth administration, buying and selling and funding banking would possibly show to be their finest guess in 2024.

Throughout the 5 largest Wall Avenue megabanks, investment-banking charges within the fourth quarter—from issuance of shares and bonds, plus advising on mergers and acquisitions—had been up about 3% year-over-year. The “inexperienced shoots” that had been talked up after third-quarter outcomes stay scarce, because the market enters a yr of uncertainty for politics, rates of interest and financial progress.