Some of Europe's largest investment banks, like their US counterparts, are set to enjoy a fourth-quarter boost to their trading revenues, but they are expected to fall well short of their Wall Street rivals over 2016 as a whole, according to new research.

Credit Suisse analysts said in a note published on January 19 that, in local currency terms, they expect "clean", or underlying, fourth-quarter revenues from fixed income, currencies and commodities trading at UBS to rise 12% year-on-year, while Deutsche Bank is expected to enjoy a 31% boost.