Trading Activity Surged at Wall Street Banks
Trading revenue at Citigroup, Goldman Sachs and JPMorgan Chase leapt by nearly 30% collectively. The total was $17.8 billion across the three firms in the fourth quarter, up from $13.9 billion a year prior. The growth rate was roughly the same between equity trading desks on the one hand, and fixed-income, currency and commodity desks on the other.