Morgan Stanley astounds doubtful analysts with huge revenue growth
Analysts had predicted a tough quarter because of volatility in fixed-income markets, continued geopolitical tension and trade disputes
17 October 2019 - 16:58
New York — In a quarter when stock and bond desks across Wall Street defied expectations for weak growth, Morgan Stanley’s traders led the pack.
Fixed-income was the standout performer, with the firm’s revenue surging 21% instead of dropping 5% as analysts had predicted. That drove the biggest outperformance in trading revenue among major banks, marking a dramatic reversal from the second quarter, when Morgan Stanley pulled up the rear amid an industrywide slump...
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