Citigroup’s fixed-income trading surges nearly 50%
But managers have already set a tougher target for 2020 and have been pointing to headwinds in the market
14 January 2020 - 18:06
New York — Citigroup cut traders — and got its mojo back.
Revenue from fixed-income trading surged 49% in the fourth quarter — more than double the increase predicted by analysts — after a slump that rattled the industry a year ago. The rebound, combined with surprisingly strong earnings from debt underwriting and consumer banking, pushed net revenue for the period to the highest since 2015...
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