Things are looking up for American investment banks
Two trends are obvious from the latest ranking of the world's largest investment banks: JPMorgan's climb to the top and Deutsche Bank's fall from grace. Expect this divergence to continue.
US banks are already in much better shape than their European rivals. Now they have the added advantage that they may be able to convince the new Washington administration to loosen strict domestic regulations. Rules burdensome to foreign lenders would probably stay in place.
The latest data from a...