Wall Street reversed the decline in trading revenue by doing what it always does - introducing complexity and opacity and gaining pricing power, writes @PaulJDavies (via @opinion) https://t.co/iuz9PWTiAJ ...

RT SolanaNews.sol (@solananew)🚨BREAKING: SOLANA LEADS 30D NFT TRADING REVENUE!!!🚨 https://t.co/2WlaOBqw9P ...

Trading Revenue - Trading revenue at the five biggest US banks reached a new record in the first six months of 2025 [1]

Core Insights - Morgan Stanley reported second-quarter results that exceeded Wall Street expectations, driven by increased trading revenues [1][2] - Net income increased by 13% to $3.5 billion, or $2.13 per share, compared to $3.1 billion, or $1.82 per share, in the same period last year [1][4] - Institutional securities net revenues reached $7.64 billion, up from approximately $6.98 billion a year ago, with strong performance in equity trading [2] - Wealth management also performed well, generating net revenues of $7.76 billion, an increase from $6.79 billion a year ago [2] - The bank's stock has risen over 12% this year, outperforming the S&P 500 [3] Financial Performance - Earnings per share were reported at $2.13, surpassing the expected $1.96 [4] - Total revenue for the quarter was $16.79 billion, exceeding the anticipated $16.07 billion [4]

Market Trends & Outlook - US lenders are forecasted to show increases in trading revenue, which is a key focus this earnings season [1] - Net interest income is expected to accelerate in the second half of the year, offsetting seasonal declines in trading [2] - The environment has improved significantly since April, with recession odds for 2025 dropping from 65-70% to around 20%, and expectations shifting from close to four rate cuts to two [4] - Banks' guidance is expected to be stable or with a bias to the upside, as they were conservative in their adjustments a few months ago due to volatility [5] Investment Banking Performance - Investment banking results are expected to underperform, marking the 14th consecutive quarter where they contribute less than a quarter of industry revenues [7] - A typical global investment banking revenue pool consists of approximately 50% FICC (Fixed Income, Currencies, and Commodities), 25% equities trading, and 25% banking fees [8] - There is potential for improvement in equity fees and equity underwriting, especially with global equities indices hitting record highs [10] - While equity fees may improve, it will be tough to hit the high watermark seen a couple of years ago [10] Strategic Focus - Investors are focusing on the profitability of investment banking, as it is a capital-light business, rather than just revenue [9]