- A rebound in credit markets and elevated trading activity ahead of the Brexit vote are likely to both filter down to solid sequential revenue growth and profits for Morgan Stanley (MS +0.5%) and Goldman Sachs (GS +1.3%), says Credit Suisse.
- Both stocks are down more than 15% YTD, but Goldman could rally 20% from here, says the analyst team, noting Q2 was the best quarter for credit market asset prices since 2009.