Lehman sees forex up but fixed income down in Q4
According to results released last week (December 13), Lehman's FX and commodities businesses achieved good results during the fourth quarter, due to heightened client activity. However, no figures were disclosed.
Despite this, fixed-income net revenues fell to $860 million as of November 30. This is a 60% drop from $2.135 billion recorded in Q4 of fiscal year 2006.
Lehman attributed the fourth-quarter fixed-income blow to "very challenging markets" over the period. "Fixed income capital markets
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