The definitive guide to the state of Wall Street, business by business

Business is up on Wall Street, but not nearly enough to start popping bottles. 

Investment banking revenues at the top-12 banks hit $82 billion during the first half of 2017, according to data from industry consultant Coalition. 

That's a 4% increase from last year, but still a yawning gap from the performance of 2012 to 2015, when first-half sales never dipped below $91.5 billion.

And while first-half performance so far is beating 2016, that's mostly thanks to a strong first quarter. Second-quarter revenues were ugly, coming in at $39.5 billion, or 5% less than the year prior. 

The data includes revenues for: Bank of America Merrill Lynch, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, Societe Generale, and UBS. 

Here's the full breakdown: 

Wall Street revenues so far have eclipsed the torpid pace set in 2016, thanks to a 19% gain on the investment banking side. Equities performance lagged though.

The second-quarter, however, saw a 5% dip from 2016 thanks to a steep drop off in fixed income revenue.

Overall, fixed income revenues were up slightly in the first half, hitting $38.5 billion. The division had been on a steady decline since 2012. Commodities hit $1.3 billion, the lowest level since 2006 thanks to continued struggles in energy and natural gas.