JPMorgan posts surprise drop in fixed-income trading revenue

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JPMorgan's third-quarter fixed income revenue fell more than $500 million short of expectations; while its bond desk saw its first decline in over two years, equity revenue rose 49 percent.

alborsaanews.com

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JB Morgan's quarterly earnings rose, but fell short of expectations, with fixed-income instrument trading revenues suddenly falling during the third quarter, the first decline of its kind in more than two years. The fixed-income instrument revenue declined by 4% compared to last year at $10.3 billion during this period, while analysts' projections were $10.5 billion, [...] article JB Morgan records the first decline in fixed-income trading reven…