Frankfurt

DEUTSCHE Bank AG, which runs Europe's biggest investment bank, said it expects the industry's revenue to decline this year as clients consider pulling back from trading some fixed-income securities and refrain from doing deals.

Securities firms will see debt trading revenue fall "slightly" from a year earlier as "an increase in macro revenues due to monetary policy divergence will be more than offset by lower credit revenues", Deutsche Bank said in a statement from Frankfurt on Friday. Income from equity trading will probably be "moderately lower" in 2016, while corporate finance industry fee pools will fall due to a decline in deals to advise on, it said.