Wall Street trading desks are pulling back from their record performance earlier this year.
Bankers now expect third-quarter revenue to be stronger than usual but below the highs reached in previous months.
The shift follows a period of exceptional gains driven by market volatility and heavy client activity.
Trading revenue surged as investors reacted to interest rate changes and economic uncertainty.
That wave has since cooled, leaving banks with more modest expectations for the coming quarter.
Despite the slowdown, current projections still point to healthy results compared with historical averages.
Market conditions remain uneven, with some desks performing better than others across asset classes.
Executives caution that client activity could rise again if volatility returns to global markets.
For now, trading floors are adjusting to a more typical pace after an unusually strong start to the year.
