David Benoit

People are turning to their banks saying, hey, help me trade, help me borrow more money to trade.

All that leads to record markets revenue.

I think you can basically say chaos works out pretty well for the banks on the investment banking fees that Goldman's talking about.

This is going to wind up pretty much the second best year outside of 2021 for all M&A across the globe.

We've seen really big deals.

We saw the buyout of Electronic Arts, the video game maker.

We saw Google buy Wiz, a security company.

We've got the ongoing fun of Warner buyout from Netflix or whoever.

The banks love those things.

That's where they get their fees.

And companies really jumped on.

Donald Trump is going to approve deals.

This is our chance to strike.

On the market side, again, I think you can pretty well point to the White House here.

You look back in April, and we had a lot of turmoil in the markets because of Liberation Day.

That smoothed out, but we've had lots of questions about where the economy is going, questions about what the Fed is up to.

All that stuff leads to people trading stocks, and stocks are at all-time highs.

We're closing in on Dow 50,000.

People are turning to their banks saying, hey, help me trade, help me borrow more money to trade.

All that leads to record markets revenue.