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Investment banking: Earnings raise dividend hopes
Halfway through the second quarter of 2013, global investment banking revenues had reached $25.7 billion, some 14% ahead of the average year-to-date total over the past 10 years. Debt capital markets revenue is running at a record level, having hit $9.2 billion between the start of 2013 and mid-May. Syndicated loan revenue is markedly up on the same period in 2012, as is global equity capital markets revenue for the banks as IPOs return. Only M&A remains quiet.
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