Commodities hit JPMC and Citi
NEWS
Revenues from JP Morgan's fixed-income markets division were down 55% from the third quarter, to $1.1 billion. The result was also down 28% from the same period in 2004.
The bank suffered from weak trading results, primarily from poor positioning in US interest rates and commodities in the quarter. As such, trading-related revenue in the fourth quarter was $735 million versus $1.17 billion the previous year.
However, a spokesperson for the bank said while there was weakness in interest rates and
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