Jefferies sees smaller trading slump in second quarter

By Owen Sanderson
18 Jun 2014

Jefferies said in its second quarter results on Wednesday that trading revenues in equities and fixed income were down by about 5% on the year, compared to the 20% drop seen in the first quarter.

The US investment bank reports around a month earlier than the US majors JP Morgan, Citi, BAML, Goldman Sachs and Morgan Stanley, and its figures are seen as an early indicator of the trading environment.

JP Morgan, however, warned in a regulatory filing at the beginning of May ...

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