Oct
07
Wall Street Winning Streak Seen Ending on Global Market Turmoil
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U.S. banks’ quarterly revenue shrinks for first time in 2015
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Third-quarter `more challenging than originally anticipated’
The six biggest U.S. banks collectively eked out revenue gains in this year’s first two quarters. That streak was probably toast in the third.
A global asset rout that squeezed bond trading and kept the Federal Reserve from raising rates drove down the firms’ total revenue 2.4 percent from a year earlier to $101.1 billion in the three months through September, according to analysts’ estimates compiled by Bloomberg. That eroded the increases in the year’s first two quarters that averaged 1.4 percent…
Wall Street Winning Streak Seen Ending on Global Market Turmoil
