Morgan Stanley follows US bank rivals
NEWS
First quarter net revenues from the division reached $2.7 billion, up 36% on the previous record set in Q1 2005. On a quarterly basis, the division was up an impressive 69% over Q4, 2005.
Although revenues from interest rate and currency products dropped year-on-year, the bank said it benefited from strong new deal activity with clients, and interest rate, FX and volatility trading. The bank did not break out results for FX.
The bank said the rise in net revenues from the fixed-income division
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