Somebody Goes Home A Winner In September Banks Report Robust FX Gains In Third Quarter
BANKS
U.S. bank earnings for the third quarter started trickling in last week and to the surprise of few, just about everybody went home a winner. As expected (FX Week, October 5), J.P. Morgan racked up record foreign exchange revenues from its global trading operations, lifted by what some describe as a spectacular September. First Chicago, Continental and Bank of New York also reported that foreign exchange trading revenues were up sharply.
Morgan, which stopped breaking out its foreign exchange
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