Bank CEOs Say $134 Billion Trading Record Is Just the Start

Morgan Stanley Chief Executive Officer Ted Pick started summing up his outlook after Wall Street’s banner year for trading with four words: “The setup is ideal.” After Wall Street’s five giant banks reported a record $134 billion of trading revenue from last year and an upswing in dealmaking, Pick and peers agreed it’s poised to continue — albeit with caveats. Most Read from Bloomberg “As a student of these businesses for decades, I would bet you that 2021 is not the ceiling,” Goldman Sachs Group Inc. ...