Fixed-income success boosts US banks in Q1
NEW YORK - Citi concluded a bumper week last week for US bank results, highlighting interest rates, currencies and credit products as strong contributors to $4.7 billion in fixed-income revenues in the first quarter.
The bank published its Q1 results on Friday (April 17), revealing a huge leap from $7 billion in losses recorded for the same period last year. As with JP Morgan, this meant the fixed-income business was the driving force for overall securities and banking revenues of $7.2 billion.
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