(Bloomberg) -- JPMorgan Chase & Co. expects investment-banking fees to show a percentage increase for the second quarter in the “mid teens” compared with a year earlier.
For the markets business, the increase will probably be in the “mid-single digits,” Troy Rohrbaugh, co-chief executive officer of the firm's commercial and investment bank, said at JPMorgan's investor day Monday.
“In banking we remain cautiously optimistic,” Rohrbaugh said. “There is improvement in overall market conditions, the pipeline remains healthy.”
In the equities business, the bank is seeing “improved sentiment, a strong earnings season and volatility underpinning secondary market and client activity,” he said. Fixed income, commodities and currencies is showing “a continuation of the first quarter, with stronger revenues in spread products tempered by slower revenues in rates.”
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