Citi, Morgan Stanley lower expectations

摘要

US banks have been busily pushing analysts to lower second-quarter expectations for trading and investment banking as activity in June offered no real surprises - at least so far, citigroup expects second-quarter trading revenues to decline by about 5% from a year earlier and investment banking revenues to drop about 15%, as market activity is hampered by trade tensions between the US and both China and Mexico, and Brexit in Europe.