Flat markets dent record revenues
NEWS
Both Goldman Sachs and Morgan Stanley reported that overall strong results were limited by the lacklustre performance of their FX and rates desks due to slow markets. Goldman Sachs reported fixed income currency and commodity revenues of $3.1 billion for the quarter ending November 24. This represents an increase of 58% on the same period in 2005.
However, Goldman Sachs said that increases in credit products and commodities were offset by significantly lower net revenues in currencies. It cited
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