Raging inflation, equity markets rout (with the S&P 500 Index witnessing the worst first-half performance in more than 50 years) and fears of recession dealt a huge blow to the business sentiments and plans for expansion through acquisitions. The Zacks Consensus Estimate for BAC’s IB income of $1.44 billion suggests a decrease of 32% from the prior-year quarter’s reported level. While Goldman’s leading position in announced and completed M&As is expected to have aided decent advisory fees growth, low equity and bond volumes are anticipated to have hindered underwriting income.