Morgan Stanley posts record revenue

CEO Ted Pick attributed the strong results to a 'good volatility environment' and the impact of the Trump administration's deregulation agenda.

The bank's stock traders took in $5.15 billion, surpassing market expectations and leading a wider windfall across the major U.S. lenders.

Investment banking revenue also climbed 36%, fueled by a resurgence in mergers and acquisitions.

Despite the record numbers, Pick expressed concern about 'imported' inflation from the Iran war and its potential to impact food prices and overall living costs in the coming months.