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  • BAML and Citi’s M&A and advisory businesses shone this quarter, thanks to sustained investments in moving up the investment banking table, and to a series of chunky deals where both firms have been prominent. Goldman and Morgan Stanley, still the top two banks in the market, saw advisory revenues flatline in the second quarter.
  • Bank of America Merrill Lynch (BAML) and Citi’s M&A and advisory businesses shone this quarter, thanks to sustained investments in moving up the investment banking table, and to a series of chunky deals where both firms have been prominent. Goldman and Morgan Stanley, still the top two banks in the market, saw advisory revenues flatline in the second quarter.
  • Goldman Sachs took flack from the market for its fixed income results on Tuesday, the second quarter running that the once-dominant firm has missed market expectations. Fixed income client execution was down 40% from last year to $1.16bn, following a first quarter when fixed income was up just 1% against a miserable 2016 number.
  • A swathe of Indian insurers are readying IPOs that could raise some $3bn between them in the next several months, riding a resurgent FIG wave in the country. Expectations are running high that more transactions will hit screens in the second half of the year. John Loh reports.
  • The bank wants to grow its franchise, but may have to take its M&A joint venture with Case a step further to achieve its goals, writes David Rothnie.
  • Bank of America posted higher earnings than expected for the second quarter, offsetting a 14% drop of revenue from its fixed income trading business.