Bloomberg reported that investment banking fees have dropped again this quarter.
Revenues from mergers, underwritings, sales and trading also fell.
The poor results were echoed in Europe, Middle East and Africa.
In connection with the drop in income, Wall Street banks have been reluctant to hire. While news of layoffs have seemed to slow there have not been reports of a rebound in hiring.
Falling revenue, political uncertainty, concern in Europe and enhanced regulation cloud the short term prospects for growth.