Record Q3 for US banks
NEWS
Morgan Stanley, Goldman Sachs and Lehman Brothers all posted strong Q3 results from their fixed-income divisions over the same period last year.
Morgan Stanley led the way with a 63% rise in net revenues from fixed- income sales and trading, reaching $2 billion. The bank said growth was driven by strong performances in interest rate, currency and credit products. Strong new deal activity and successful positioning in interest rate and FX drove up revenues, while the banks saw significantly higher
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