本周华尔街大型银行的季度业绩显示，即使是该行业规模最大、最稳健的参与者，也可能受到资本市场起伏的影响。
Quarterly results from Wall Street's big banks this week showed that even the largest and most robust players of the industry can be vulnerable to the ebb and flow of capital markets.
交易业务具有周期性，在第三季度放缓，导致投资银行业务受挫，因为债券收益率上升、AI交易波动以及地缘政治担忧让投资者和公司董事会同样感到不安，进一步推迟了长期期待的并购和首次公开募股复苏。
Dealmaking, a cyclical business, slowed in the third quarter and dented investment banking, as rising bond yields, choppy AI trade and geopolitical worries gave jitters to investors and corporate boardrooms alike, further delaying a long-awaited revival in M&As and IPOs.
以下是六家美国顶级银行业绩的概览，以图表形式呈现，标志着美国企业第三季度财报季的开端：根据LSEG数据，摩根大通（JPM.N）自2023年第四季度以来首次出现利润不及预期，而其最接近的竞争对手美国银行（BAC.N）也未能达到市场预期。
Here is an overview of results from the six top US banks in charts, which kicked off the third-quarter earnings season for US companies: JPMorgan Chase (JPM.N) posted its first profit miss since the fourth quarter of 2023, according to LSEG data, while its closest rival, Bank of America (BAC.N), fell short of market expectations.
其他四家美国顶级银行的业绩超出预期，但股价走低或反应平平，因为投资者认为其业绩超额幅度低于之前的季度。
The other four top US banks exceeded expectations, but their stocks traded lower or did not react as investors judged the earnings beats to be smaller than in previous quarters.
交易商原本期待一个丰收年，但自夏季以来，由于市场波动、地缘政治动荡、国债收益率上升以及对AI交易可持续性的担忧，势头已趋于停滞，使得公司持观望态度。
Dealmakers were looking forward to a bumper year, but momentum has stalled since the summer as market volatility, geopolitical turmoil, rising Treasury yields and concerns over the sustainability of the AI trade kept companies on the sidelines.
与上一季度相比，投资银行费用增长显著放缓，原因是加息以及若干高调IPO的推迟打击了市场情绪，尽管高管向投资者保证这些IPO并未被取消。
Growth in investment banking fees slowed sharply compared to the prior quarter as an interest-rate hike and delays to several high-profile IPOs hit sentiment, even though executives reassured investors that they have not been canceled.
季度业绩显示，大型银行的交易表现出现明显分化：股票交易部门受益于市场活动激增，而固定收益业务表现不佳。
The quarterly results revealed a sharp divide in trading performance at big banks: equity desks benefited from a surge in market activity, while fixed-income underperformed.
市场波动通常会提振交易业务，因为客户会重新调整投资组合并对冲风险。
Market volatility typically boosts trading businesses as clients reposition portfolios and hedge against risks.
净利息收入——即银行从贷款中获得的收益与存款支付成本之间的差额——有所上升，分析师预计美联储9月加息将进一步提供支撑。
Net interest income, the difference between what banks earn on loans and pay out on deposits, rose, with analysts expecting further support from the Federal Reserve's September rate hike.
银行业高管指出，消费者支出和借贷表现出韧性，缓解了人们对顽固通胀和高利率会给家庭预算带来压力的担忧。在一个亮点中，贷款需求也继续稳步增长。以下是路透社对美国六大银行的报道综述：
Banking executives pointed to resilient consumer spending and borrowing, easing concerns that sticky inflation and elevated rates would strain household budgets. In a bright spot, loan demand also continued to chug along. Here is a rundown of Reuters' coverage of the six largest U.S. banks: