The emerging scenario of sustained high interest rates could boost the profitability of U.S. banks. That’s according to Goldman Sachs analyst Richard Ramsden who, in a Monday note, expressed cautious optimism for the second-quarter earnings season. Among the first to report on July 12 are JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC), Citigroup Inc. (NYSE:C), and Bank Of New York Mellon Corp. (NYSE:BK). Goldman Sachs Inc. (NYSE:GS) and Bank of America Corp. (NYSE:BAC) will follow with their reports on July 15 and 16, respectively. Analyst’s Optimism Ahead Of Banks’ Q2 Earnings “In the higher for longer rate environment, long rate-sensitive assets continue to reprice higher, and deposit cost pressure is slowing,” Ramsden wrote. Goldman Sachs anticipates that banks will, on average, report a 7% year-on-year (YoY) revenue growth for the quarter. Trading revenue growth is expected to be a robust segment, projected to average 6% in Q2 2024 and 3% for the year, compared to 2% after fourth ...