JPMorgan Expects Mid-to-High Teens Growth in Q3 Investment Banking Fees

JPMorgan Chase expects its investment banking fees and markets revenue to rise by mid-to-high teens in Q3, according to Bloomberg. This outlook comes from Doug Petno, Co-President of JPMorgan and CEO of the bank's Commercial & Investment Bank.

Petno highlighted a strong investment banking pipeline that has carried through the quarter, with performance remaining broad-based across products and geographies.

While normal seasonality is expected to produce a sequential decline in revenue from Q2, mid-to-high teens year-over-year growth in both investment banking fees and markets revenue would still represent another strong quarter for JPMorgan's Wall Street businesses.