Large fixed income houses are likely to increase their dominance in the market as higher capital requirements and ebbing flows prompt smaller players to pull out of the market, according to analysts at Deutsche Bank.
Goldman Sachs reported strong first-quarter earnings, as its debt underwriting business generated record fees – offsetting a mediocre performance in fixed income, currency and commodities client execution.
Bank of America Merrill Lynch posted a disappointing quarter for fixed income, currency and commodities trading in the first three months of the year, pulling down overall revenues and profit at the investment bank.
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- Boards keep tabs on executive pay
- Goldman avoids dilution after Berkshire deal
- Credit Suisse lays off in rates
- P&M: Credit Suisse lays off around 12 from New York rates team