At the five largest investment banks, global fixed-income underwriting revenues jumped by 25 percent in 2005, while global equity underwriting revenues edged 3 percent higher. But some would argue that 2006 will be a much better year for equity issuance. Demand has already perked for technology and growth issues. Bank of America analysts expect equity underwriting revenue to rise 15 percent this year, and equity sales and trading revenues to grow 11 percent. They expect fixed-income underwriting revenues to decline 11 percent this year and fixed-income sales and trading revenues to fall 9 percent.

> Here's an Investment Dealers' Digest article. (exclusively for FierceFinance readers)