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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
Add BT as a preferred sourcePublished Fri, Jan 20, 2017 · 09:50 PM
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 sharp gains in fourth-quarter profits over the past week. Revenue from the business contributed US$11.7 billion to the collective top line of Wall Street's five biggest banks, up 46 per cent from the year-ago period.
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