The third quarter earnings of major US banks have exceeded expectations, indicating a strong start to the reporting season.
The growth can be attributed to the flourishing investment banking sector, particularly the recovery in mergers and acquisitions (M&A).
Morgan Stanley and Goldman Sachs have experienced significant profit increases, highlighting the positive impact of the revitalized M&A business on their financial performance.
This positive trend raises optimistic expectations for other financial institutions, including UBS, as they navigate the current market landscape.