Among the big winners were Morgan Stanley and Bank of America Corp., which both handily beat expectations thanks to their investment banking and consumer businesses, respectively.
Other investors, like Mohamed El-Erian, have also said that the United States may be better off because of the tariffs.
The industry's future, Thompson says, may be more defined by adjusting business models, rather than adding digital layers onto existing services.
The 2018 AFP Liquidity Survey, Underwritten by State Street Global Advisors, Confirms Safety is Still the Most Valued Short-Term Investment Objective for 65 percent of Organizations
Yet their investment pools, known as merger arbitrage funds, lost money in the period, sending some investors fleeing.