US Banks' Q2 Foreign Exchange Results May Reflect Changing Market Conditions
BANKS
US banks are due to begin releasing second quarter earnings reports this week, and the consensus emerging among market participants is that results are likely to be mixed. The main features of the quarter pertain to the changing market environment, mainly lower volumes on the customer side, but proprietary trading is becoming more popular again, sources say.
"Customer volumes were down considerably, so there's probably some pain on the customer desk," says David Gilmore, analyst and partner at
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