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16

Wall Street’s Wait for Bond-Trading Boost Starts to Pay Off

By Tony Seruga

Citigroup, JPMorgan beat estimates as bond-trading surges
JPMorgan says momentum is continuing into fourth quarter

Wall Street’s biggest banks have spent years waiting for the end of a slump in fixed-income trading. It’s finally paying off.

Citigroup Inc.’s fixed-income revenue surged 35 percent to $3.47 billion in the third quarter, and JPMorgan Chase & Co. posted $4.33 billion from the business, $1 billion more than analysts’ average estimates. Marianne Lake, JPMorgan’s chief financial officer, said Friday that the momentum continued into October…

Wall Street’s Wait for Bond-Trading Boost Starts to Pay Off

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