Wall Street macro traders head for worst year since the pandemic
29/11/2024 6:13
The world’s banks are on track to report the lowest revenue from foreign-exchange and rates trading since the pandemic, hit by tighter margins and a challenging macroeconomic backdrop.
Over 250 firms including Goldman Sachs Group Inc., JPMorgan Chase & Co., Citigroup Inc. and Morgan Stanley are forecast to make a total of $32 billion from trading of Group-of-10 rates and $16.7 billion from currencies, according to data collected by Coalition Greenwich. That’s about 17% and 9% less than last year, respectively.
Source: Bloomberg
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