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Why Wall Street bankers hope for a bonus boost after record revenue fall
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Wall Street’s banking revenue has never fallen harder than it has this year. Bankers are hoping their bonuses can hang on a bit better.
Fees from advising on deals, stock offerings and bond sales are down more than 40% from this time last year, wiping out more than $50bn in revenue, according to data from Dealogic. That is the biggest year-over-year dollar decline on record, worse even than in the financial crisis.
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