M&A at US banks down 54% in Q2?
Came across this worse than imagined picture of the market.
Any thoughts are appreciated:
Dick Bove, the veteran US banking analyst, says M&A bankers at leading American banks have had a truly terrible second quarter. He thinks year-on-year revenues in M&A at leading US investment banks were down 54% year-on-year in Q2. At universal banks, he thinks they were down 60%.
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