US banks see Ficc earnings drop in Q2 2019
Results subdued due to depressed volatility and low client activity
The top five US banks saw a combined 13.3% decline in trading revenues for fixed income, currencies and commodities (Ficc) in the second quarter of this year, amid persistent low volatility in foreign exchange, rates and commodities markets.
Morgan Stanley experienced the biggest hit as Ficc trading revenues fell 33.7% quarter-on-quarter this year. Of the five banks, JP Morgan fared the best with only a marginal decrease of 0.9% over the same period.
Ficc revenues at Morgan Stanley stood at $1
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