Wall Street giants including Goldman Sachs, JPMorgan, and Citigroup are set to earn around 165 billion dollars this year from trading bonds, loans, and commodities, a 10 percent jump from 2024, according to research firm Coalition Greenwich.

Bloomberg reports that traders are on track for their strongest performance in 16 years, as clients rushed to place bets on shifting interest-rate policies around the world.

With central banks adjusting rates, governments debating tariffs, and countries taking on more debt, global uncertainty has fueled more trading and bigger profits.

In major global markets, interest-rate traders alone are expected to bring in 40 billion dollars, the highest in five years.

Emerging-market traders who work with bonds and currencies from countries such as Brazil, India, and South Africa are also enjoying their best year in more than two decades, with earnings expected to reach 35 billion dollars.

Banks across Asia are benefiting too. Japan’s biggest brokerage, Nomura, gained ground after the Bank of Japan raised interest rates while the US and Europe moved in the opposite direction.

The company now plans to help more Asian investors access European and US rates markets, and support major tech and data-center projects in managing their exposure to rising borrowing costs.

Meanwhile, stock traders are having their strongest year in nearly 20 years thanks to the boom in AI companies. Their payouts are expected to rise by 14 percent.

Research firms expect trading revenues to remain strong into 2026, slipping only slightly to 162 billion dollars.

But not everyone should expect a big bonus. Michael Karp, CEO of recruitment firm Options Group, warns that many traders may be disappointed.

“Expectations might not match reality,” he said.

His firm estimates that bonuses for FICC traders those who trade fixed income, currencies, and commodities will rise only three percent on average this year. Rates traders may see around seven percent, emerging-market traders five percent, and foreign-exchange traders four percent.