iBankCoin
Joined Nov 11, 2007
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Banks Expected to Report a Slowdown in Trading for Q2

“(Reuters) – Wall Street banks will report sharp declines in trading and investment banking revenues in the second quarter because of weaker client activity, JPMorgan analyst Kian Abouhossein said in a report on Friday.

Fixed income, currency and commodities trading revenue is likely to be particularly challenged for a group of banks including Goldman Sachs Group Inc and Morgan Stanley , dropping 32 percent from the previous quarter, Abouhossein predicted.

The group of eight banks will also report a 14 percent decline in equities trading revenue and a 17 percent fall in investment banking revenue, according to Abouhossein’s estimates based on activity so far.”

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