Morgan Stanley profit surges on ‘crisis’ trading
Fixed-income trading revenue almost triples, driving a 73% jump in total trading
16 July 2020 - 17:07
New York — Morgan Stanley wrapped up a week of wins for Wall Street trading desks, capitalising on the Federal Reserve’s extraordinary rescue measures with record profit.
Fixed-income trading revenue almost tripled, driving a 73% jump in total trading that surged past expectations, according to a statement on Thursday. That spurred revenue and earnings to record highs across the firm amid wild market swings caused by the coronavirus pandemic...
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