Don’t believe me, here are some stats for you... ⤵️
• In Q3 2025, U.S. commercial banks and savings associations had $18.4 billion in trading revenue - up ~12.7% year-over-year.
• In Q2 2025, these banks reported $16.6 billion in trading revenue, with 4 big banks holding 87.3% of total notional derivatives exposure.
• Earlier in 2025 Wall Street’s largest banks (JPMorgan, Goldman, Morgan Stanley, Bank of America, and Citi) collectively earned nearly $37 billion from trading in a single quarter - their strongest in more than a decade.
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