JP Morgan’s sales and trading revenues have bounced back from a lacklustre start to 2016 to hit their highest quarterly level in more than a year in the three months to June 30, with a recovery in capital markets work also helping to boost profits at the corporate and investment bank.

The Wall Street bank opened the US quarterly reporting season on July 14. Its results cover the three months to June 30, a period that began with hopes of a turnaround from a slow start to the year and ended amid the aftermath of the UK's vote to leave the European Union.