Goldman Sachs’ debt underwriting topline performance was one of the main drivers of the 32% increase the lender reported in 1Q investment banking fees. The U.S. bank’s debt underwriting revenue climbed 38% from the year-ago period, and 77% from the prior quarter. At the same time, Goldman Sachs’ revenue from debt investments declined both sequentially and on a year-ago comparison basis to $345 million, reflecting lower net interest income due to a reduction in the debt investments balance sheet. The bank’s debt investments have been volatile over the past year amid net mark-downs in real estate. Shares rise 4% to $405.25 in pre-market trading.