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Company: Morgan Stanley

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Piggy banks on stacks of gold coins

Banks' restructuring, expansion efforts seen closing gap with U.S. giants

man doing bicep curls

Surging debt issuance leads the way, with lending, M&A up too

U.S. flag

Market conditions point to stronger trading, investment banking revenues

Merger puzzle pieces

Deal volume down, but surge in "mega deals" drives value

Economic growth

JPMorgan tops global league tables, RBC ranks as top Canadian firm

Earnings, revenue headwinds eased in second quarter, Fitch reports

Investment banking gains cushion weakness in banking: Fitch

Strong debt issuance, M&A expected to be revenue drivers in the quarter

Stacking interest rate blocks

Global revenues up driven by debt issuance, M&A advisory fees, LSEG reports

Surge in mega deals, valuations drive dealmaking activity in first six months of 2024