Macro environment mutes investment bank earnings

Earnings at the big US banks are struggling to take off amid continued macroeconomic uncertainty.

US investment banks have announced a mixed set of results during the past week. A preliminary look at the numbers shows that Citi, Goldman Sachs and J.P. Morgan all booked improvements, while Bank of America Merrill Lynch and Morgan Stanley lost ground.

None of the banks provide a separate regional breakdown of revenues for advisory, equity capital markets and debt capital markets, and J.P. Morgan's breakdown is somewhat buried. Across the four banks...

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