Morgan Stanley held back by poor Q3 currencies and interest rates results
NEWS
The investment bank said interest rate and currency products were adversely affected by a less favourable environment as customer-driven flow and volatility declined and the yield curve flattened. Emerging markets revenues were significantly lower due to slower customer flow and market conditions. These factors more than offset an increase in revenues on structured transactions in interest rate and currency products.
Despite this, net revenues from the business line produced a 13% rise versus
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