Big banks warn of trading revenue decline
Some of the nation’s biggest banks, JPMorgan Chase, Bank of America and Citigroup, are warning that trading revenue in the second quarter will be down at least 10 percent compared to a year ago. Goldman Sachs also flagged a drop in trading revenue. One of the reasons they’re pointing to? A lack of market volatility. That may seem like a head-scratcher in today’s extremely volatile political environment, but just look at what was happening at this time last year.
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