Goldman Sachs Struggles to Navigate the Markets
ByWho cares about a few bad weeks in fixed-income markets?
Jamie Dimon, JPMorgan Chase’s chief executive, raised that reasonable question last week. The answer is Lloyd C. Blankfein at the rival Wall Street firm Goldman Sachs, which on Tuesday reported a 40 percent year-on-year slump in revenue from trading bonds, currencies and commodities. Goldman’s market compass is a little off, and investors may soon expect Mr. Blankfein to fix it more quickly.
The quarter to June was the second in a row in which Goldman, the $90 billion financial company, has been out-traded by its peers. While others warned that the period would not be as good as a year earlier — basically because fewer freaky things happened in the market — JPMorgan and Citigroup reported revenue shrinkage in their equivalent divisions less than half as severe as Goldman’s…
Goldman Sachs Struggles to Navigate the Markets
