JP Morgan kicks off Q3 results round
The US bank, which does not break out its foreign exchange figures, saw overall fixed-income market revenues drop 38% to $3.1 billion in Q3 versus the same time last year. In addition, revenues fell 12% from the second quarter of this year, when it made $3.6 billion.
The bank attributed the drop from the prior year to declining results in the credit and rates market. It also blamed the decline from Q2 on losses of $149 million from tightening credit spreads on certain structured liabilities
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