"Analyst: Bank Earnings Reflect Resurgence in Capital Markets"

Morgan Stanley and Bank of America have reported strong first quarter earnings, with both banks surpassing revenue and earnings estimates. According to Argus Research Director Stephen Biggar, the results reflect a resurgence in capital markets, particularly in investment banking, wealth management, and trading, while the lending business and net interest income have faced challenges. Biggar anticipates a durable upturn in investment banking and expects advisory revenues to gather speed in the latter quarters of the year.