Morgan Stanley thinks Goldman Sachs traders probably did well in the third quarter
It's October, which means Q3 bank results, which mean appraisals, which mean bonus conversations in investment banks.
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With these things on the agenda, Morgan Stanley's banking analysts have released their expectations for performance by bank and business area in Q3 '26 versus Q3 '2025.
We have added their expectations for sales and trading specifically to the charts (made by us) below.
Morgan Stanley's own sales and trading revenues aren't included in the analysis, but if you work for Goldman Sachs in either equities or fixed income trading, your bonus prospects following Q3 appear better than, say, traders at SocGen or Nomura.
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