JP Morgan cuts global IB estimate by 20% for '16
Analysts at the financial management firm JP Morgan have reduced the earning estimates of global investment banks (IBs) for 2016 by an average 20%. Reportedly, the current turmoil in global equities and commodities markets has made it harder for investment banks to make money in traditional business lines. Notably, the MSCI all-world stocks index has declined by 9.5% in 2016. 