FICC fears well founded as first banks show their hands
The first wave of the big investment banks reported first quarter numbers this week, showing that the promised dive in fixed income trading revenues was no idle warning, writes Owen Sanderson. JP Morgan, Citigroup, Bank of America Merrill Lynch and Credit Suisse all reported first quarter FICC or fixed income numbers down between 15% and 21%, as trading volumes and volatility slumped.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts