What is a bulge bracket bank and who are they?

The term “bulge bracket” generally refers to the large investment banks that cover most or all industries and offer most or all of the various types of investment banking services.   While there is no official list of bulge bracket banks, most people would consider the following banks to be bulge bracket:
Bank of America
Barclays
Citigroup
Credit Suisse
Deutsche Bank
Goldman Sachs
JP Morgan
Morgan Stanley
UBS
Bear Stearns
Lehman Brothers
Merrill Lynch

Note: in this market environment, this list may change at a moment’s notice