Oh woe. Investment bank profits are evaporating after a disastrous contraction of trading revenues reflecting zero-to-negative interest rates, weak commodity prices and worries about China and other emerging markets. Not to mention the stagnant eurozone, the possibility of Brexit, increased capital requirements (which will rise further for banks that must ‘ringfence’ their trading operations) and the demoralising impact of regulatory moves to cap and force clawback of bonuses.