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Jul

11

Bored Traders on Tinder Are a Symptom of Wall Street Revenue Dip

By Tony Seruga

Five biggest firms seen posting 11% drop in trading revenue
Clients feel it too, with one leaving work to play Nintendo

One bond trader says he’s been slipping out early to watch his kids play sports. A fund manager says his office just staged a golf retreat. A trading supervisor at another bank confides he’s swiping through a lot of profiles on Tinder, the dating app.

Welcome back, Wall Street, to the doldrums.

After four straight quarters of rising income from trading, the biggest U.S. investment banks spent the past few months in a renewed slump. Shareholders will soon see how dull it’s been. Analysts estimate the five largest firms will say their combined revenue from trading dropped 11 percent from a year earlier to $18.4 billion — the smallest haul for a second quarter since 2012. The banks start posting results July 14…

Bored Traders on Tinder Are a Symptom of Wall Street Revenue Dip

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