Wall Street's Big Three have generated $52 billion in equity trading revenue this year, capturing about 80% of the market on rising margin lending to hedge funds.
Debt, AI and Ukraine dominated the conversation at the IMF-World Bank meetings in Bangkok, while China, the focus in 2018, slipped into the background.
With $5 billion already deployed off its balance sheet, JPMorgan Chase is racing ahead on direct investments in defense tech, hardware and supply chains.
The U.S. raised market access issues for Mastercard and Citigroup in China during bilateral meetings in Bangkok this week, a U.S. Treasury official says.