Fixed-income bonanza for US banks in Q2
NEW YORK - Record fixed-income, currencies and commodities (FICC) revenues of $6.8 billion at Goldman Sachs led the way in a bonanza week for fixed-income divisions in second-quarter US banking results.
Goldman's Q2 release (July 14) said strong results in currencies and interest rates, plus record returns from credit products, lifted FICC revenues from $2.4 billion in Q2 2008. The bank said FICC had operated in a market environment characterised by strong "client-driven activity, particularly
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