Catenaa, Wednesday, July 09, 2025- Global banks, including top US lenders, are expected to report a 10% gain in market revenue as traders cashed in on shifting US tariff policies.
According to estimates from analysis firm Crisil Coalition Greenwich, there was a 15% gain in trading revenue in the first quarter for 12 global banks.
Bank of America and Citigroup executives said last month they expect market revenue to climb by mid-to-high single-digit percentages in the second quarter, following a strong first quarter.
When US banking giants report second-quarter earnings next week, they could even beat those expectations, executives and analysts said.
The gains come after US President Donald Trump’s tariff announcements in April spurred volatility in stocks and drove volumes to a record in the US Treasuries market, according to electronic trading platform Tradeweb Markets.
Coalition bases its estimates on 12 global banks, including JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo, as well as European rivals.
Tradeweb Markets, which operates electronic marketplaces for rates, credit, equities and money markets, reported average daily volume of $2.7 trillion in April, up 38.6% from a year earlier. It posted a record $2.71 trillion average daily volume in March.
Activity in US government bonds on Tradeweb’s platform surged to a record in April, including the biggest weekly jump since 2001, as yields rose after US President Trump’s initial tariff announcements stunned markets.
Coalition forecast markets revenue would grow about 7% for banks in its index for 2025, compared to a 13% gain projected for the first half. The 2025 revenue projection of $246.2 billion is the best since 2009, the year after the onset of the global financial crisis, the data shows.
