Wall Street’s Deal Desk in Decline: Investment Banking’s Longest Drought Since 2014
SnapshotWall Street’s “back office”—powered by mergers & acquisitions and capital markets—is bogged down. For over three years, investment banking has failed to reach 25 percent of top bank revenues, hitting its worst stretch since 2014 . Macro Forces at Play• Elevated interest rates & geopolitical tensions are boosting market volatility.• Paradoxically, while volatility boosts trading revenue…