FICC angst lingers despite Q2 rebound

摘要

Fixed income trading desks at US banks reported their strongest second-quarter performance in three years, but it was not enough to make up for the grim first quarter and herald a change in mood over longer-term prospects. At the halfway mark in 2016 fixed income, commodities and currency trading revenue was down 6% across the five top banks, despite a strong performance in the second quarter across the board as clients reengaged both ahead of and after Britain voted to exit the European Union. FICC revenues at the banks in the second quarter were on average up 20% from a year ago (see chart).