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.
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