Morgan Stanley and compatriots raise the FICC bar

By Jasper Cox
16 Jan 2020

Morgan Stanley more than doubled its revenue from fixed income sales and trading in the fourth quarter of last year, completing a stellar set of earnings for US banks in that business after a year in which they appear to have cemented their dominance in Europe.

Net revenues grew by 126% to $1.27bn compared with the last quarter of 2018. Morgan Stanley pointed in particular to strength in credit products in its results announcement on Thursday.

Across the five big US investment banks, revenues from fixed income, currencies and commodities trading (FICC) have ...

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