DCM offers rare bright spot for banks in Q1

Strong corporate issuance, especially of high yield bonds, failed to offset a tough quarter across ECM, M&A and loans for investment banks, shows preliminary data

Debt Capital Markets provided a rare bright spot in an otherwise miserable first quarter for investment banks, with revenues from underwriting bond issues holding up as fees from other asset classes slumped.

DCM contributed $5.2bn to the banks' coffers in the first three months of the year, which equates to 28.5% of the industry's total fees from investment banking, according to preliminary three month data from Thomson Reuters. DCM has accounted for a quarterly average of 22.9% since 2006.

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Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on ItExternal link

Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on It