Wall St banks' Q2 saw deal fees, trading windfall boost profit

XLF•2026-07-16

Investment banking windfall

Wall Street's mega-IPOs and multibillion-dollar deals fueled a surge in investment banking fees, lifting them to their highest level since the pandemic-era boom of 2021. The bumper activity was headlined by the historic listing of Elon Musk's SpaceX.

Global investment banking revenue topped $60 billion in the first six months of the year, Dealogic data showed, with JPMorgan JPM.N leading the league tables, followed by Goldman Sachs GS.N and Morgan Stanley MS.N.

Executives cited healthy pipelines and strong backlogs for the second half, fueling expectations that the investment banking "super cycle" still has further to run.

Second-quarter results at big U.S. banks

Wall Street's biggest banks found few reasons to complain this earnings season. Investment bankers were busier than they have been in years, trading desks thrived on volatility and resilient consumers kept lending businesses humming.

Wall St banks' Q2 saw deal fees, trading windfall boost profit

Investment banking windfall

Second-quarter results at big U.S. banks

Loan growth and profits beat expectations

Trading desks cash in on volatile markets

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