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Equities trading stings Wall Street banks as investors embrace bonds

October 18, 2016 12:45 PM
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Equities trading stings Wall Street banks as investors embrace bonds

In a reversal of fortune for Wall Street banks that have invested heavily in equities trading, clients flocked back to bonds last quarter and left stocks behind.

In earnings reports over the past several days, Bank of America (BAC.N) and Citigroup (C.N) saw massive slides in equities trading revenue, while Goldman Sachs Group Inc (GS.N) and JPMorgan Chase & Co (JPM.N) posted small increases.

Also read: ECB relaxes rule of bond lending to avoid repo squeeze

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