J.P. Morgan Chase & Co. CEO Jamie Dimon struck an upbeat tone on Friday in the wake of the bank’s quarterly earnings, raising expectations that the era under the coming Donald Trump administration could be a resurgent one for the financial sector.

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The bank’s business tied to helping its clients buy and sell stocks, bonds and other securities, saw a 24% rise in revenue to $4.5 billion from $3.6 billion a year ago, with fixed-income specifically enjoying a more than 30% pop in revenue compared with the same period a year earlier.

Those results helped the U.S.’s biggest bank by assets ring up a record annual profit of $24.73 billion, beating the previous record of $24.44 billion set in 2015.

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Earnings were bolstered by a jump in trading, following Trump’s surprise election victory on Nov. 8, and reinforced Wall Street’s expectation that the president-elect’s proposals of looser regulations, lower taxes and a ramp-up in fiscal spending would usher in a new age of stratospheric growth for banks. The sector has seen stocks, if not profits, languish since the 2008-09 crisis rocked global markets and led to a raft of stringent policy measures to rein in bad actors across the world.

But Friday’s results appeared to signal that shift may be at hand in some of the most profitable areas.

“The fixed-income market is going to go up, and needs for [currencies] is going up, and the needs for hedging is going up” Dimon said, during a Friday conference call with investors.

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The J.P. Morgan JPM, -1.14% chief also said he believed a secular, or long-term, decline in the fixed-income business, may be coming to an end with volatility—a boon to Wall Street trading—on the rise.

Some market observers have argued that a slowdown in trade has hampered some of Wall Street’s most prominent banks, including Goldman Sachs Group GS, -2.91% and Morgan Stanley MS, -1.76%

Bank stocks have soared since the November election, spurred by the hopes outlined above, ending a period of weakness caused by a combination of worries about bank loans to embattled energy companies and ultralow interest rates. A popular ETF tracking the banking sector, the Financial Select Sector SPDR ETF XLF, -1.04% is up nearly 18% since the election, while J.P. Morgan shares, which touched a fresh record high Friday, have risen by about 24%. The Dow Jones Industrial Average DJIA, -0.46% has climbed about 10% in the last three months.

The following chart shows some of J.P. Morgan’s moves since the financial crisis, including its 2009 low and its Feb. 11, 2016 nadir:

J.P. Morgan’s shares are rebounding. But will it last?

Also helping to lift bank shares is an expectation that Trump will roll back hard-hitting banking Dodd-Frank bank reform rules, that critics say have made it harder and more expensive for banks to operate.

Overall, Dimon, who will be a member of Trump’s CEO brain trust, sounded bullish on the U.S. and global economy.

“If you take a walk around the world, Japan’s doing a little bit better, Europe’s doing a little bit better,” he said on the analyst call. He said he was happy with the trend for the U.S. economy and optimistic that tax cuts could be good for the economy and markets.

Dimon also said he was not fearful that Trump’s trade policies would be protectionist.

However, said that he didn’t want to go to extremes in his reaction to the coming Trump presidency. “I’m neither euphoric nor depressed” about the economic prospects under Trump. “Give him some time,” he said later.

Bank of America Corp. and Wells Fargo & Co. shares also rose Friday, while the S&P 500 was up 0.2%.

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