Bullish results for US investment banks
NEWS
Bear Stearns, Lehman Brothers and Goldman Sachs all generated a continued rise in revenues from fixed-income businesses, largely resulting from credit, compared with the same period last year.
Net revenues from the fixed-income business at Bear Stearns were up 27% to over $1.1 billion in Q1, from $907 million in Q1 2006. The result reflected record results from the credit business, although interest rate operations also helped to drive up revenues due to increased volatility and higher customer
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