In another sign the U.S. economy is more resilient than anticipated, banks have had a good showing this earnings season.
are supposed to benefit from the higher interest rates that felled regional banks like Silicon Valley Bank and First Republic.
But investment banking activity — which slowed as higher rates first kicked in last year — is seeing signs of a revival.. As Octavio Marenzi, CEO of consultancy Opimas, put it, "investment banking, which has been a problem child over the past year or so, is starting to show signs of life."And while Morgan Stanley didn't do so well on the investment banking front, CEO James Gorman said he believes "we are very, very close" to the end of rate hikes.
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