If the 2017 results announced by the big US banks since the start of the year are anything to go by, 2018 could be shaping up to be a bumper year – certainly in comparison to the most recent quarters.
Banks often throw in the kitchen sink when times are tough, hoping to bury unpleasantness, like a 20% drop in M&A wallet or plummeting fixed income revenues, under some doubtless necessary but perhaps over-cautious provision, the excess of which can be written back in the future when the dust has settled and when a fillip might really be needed.
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