Morgan Stanley profit jumps on bond-trading comeback

October 19, 2016 1:11 PM

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Morgan Stanley profit jumps on bond-trading comeback

Morgan Stanley reported a better-than-expected profit on Wednesday, boosted by a surge in bond trading that helped all Wall Street banks last quarter.

Morgan Stanley's gains were especially notable. Its adjusted bond-trading revenue more than doubled, hitting Chief Executive James Gorman's revenue target for that business for the second quarter in a row.

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