Goldman Sachs said in a note on 22nd Feb 2016, that the first quarter capital markets revenues are down by 15%. This is the weakest in recent history.
It looks like that 0.5% increase in US interest rates is having an effect. The banks know its coming, and the number of job cuts (<200) pale in comparison to the carnage of the 2008 GFC (several million). So its time for bank to suck it up a little and stop whining about a very marginal 0.5% rate increase.