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Bond trading's the star at Wall Street banks

Revenue from the business contributes US$11.7b to the collective top line of Wall Street's 5 biggest banks, up 46% year on year

The fourth- quarter results may provide some support for what bank executives have been saying for years: that bond trading was in a temporary funk, and would recover once clients started trading more.

New York

WALL Street banks once earned huge profits by encouraging bond traders to swing for the fences, but their fourth-quarter results show how dramatically that model has changed.

Bond trading was the star of the show as finance chiefs and chief executive officers reviewed...

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