the dealmaking slowdown that has weighed on wall street this year shows no signs of letting up investment banking revenue at jpmorgan chase is headed for a 45 to 50 decline in the third quarter from a year earlier president and chief operating officer daniel pinto said tuesday during a conference the bank posted 33 billion in thirdquarter investment banking revenue last year amid what was then a bull market for ipos stock issuance and other deals now wall street is grappling with steep declines in capital markets activity as ipos slow to a crawl and mergers declined after stocks had their worst first half since 1970 a bull market for bankers has turned to bust this year and firms are expected to cut compensation and jobs in the coming months yesterday goldman sachs became the first major wall street firm to acknowledge that it was pulling back on headcount by cutting hundreds of jobs this month when asked whether jpmorgan would follow suit with its own layoffs pinto responded that over time the bank will adjust its employee base to match the opportunities in global investment banking