On January 6, Royal Bank of Canada Capital Market said that the background of the start of this year for global investment banks is relatively high volatility, which will support market income. Investment banking activity will continue to recover, especially in the United States, driven by deregulation, analysts wrote in the research note. Looking ahead to 2025, after a good fourth quarter, analysts are predicting that Capital Market's revenue will rise faster than other revenues. Bank of America and Citigroup in the United States, as well as Barclays, Deutsche Bank, UBS and BNP Paribas in Europe, will all benefit from these trends, they added. "The risk is that geopolitical events, elections, and rising inflation will have a negative impact on investment banking activity, but this could have a positive knock-on effect on the deal," they noted. ”