"If there was one buzzword to capture banking chiefs' mood during third-quarter earnings week, it was "pipeline." In Wall Street parlance, that refers to the backlog of deals investment banks are readying to bring to market - and from mega-merger powerhouses like Goldman Sachs to equity underwriting giants like Morgan Stanley, everyone was eager to emphasize that their pipelines are finally beginning to flow again."
""Our pipeline remains robust," JPMorgan's chief financial officer, Jeremy Barnum, told investors on Tuesday. "I think it was the busiest summer we've had in a long time in terms of announcement activity. We're seeing that play through into acquisition finance," he added later, pointing to a more positive rate environment. At Bank of America, CFO Alastair Borthwick said deal flow was "up this quarter, up over double digits. So we feel good about the pipeline.""
Deal pipelines at major US investment banks have reaccelerated, producing broad-based improvement across advisory, equity, and debt underwriting. Five of the largest US banks reported sharp revenue gains across those businesses, the first simultaneous strengthening in several years. Bank executives described robust pipelines, increased announcement activity, and a more favorable rate backdrop supporting acquisition finance and public issuance. Consultants report growing deal backlogs that could lift banker compensation if momentum persists into 2026. Optimism around mergers and capital-markets activity is rising, though executives acknowledge uncertainty about how long the recovery will sustain.
Read at Business Insider
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