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Wall Street bosses preach caution after surprise dealmaking rebound

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Jamie Dimon, chief executive officer of JPMorgan said ‘pipelines can grow and shrink’ rapidlyPhoto: Al Drago/Getty Images

Wall Street banking bosses have preached caution about a recovery in dealmaking even as investment banking fees bounced back in the second quarter. 

In what was expected to be a muted quarter for investment banking as US president Donald Trump’s tariff war prompted companies to ice deals, some top banks surprised with rises in revenue.

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