Morgan Stanley profit jumps on bond-trading comeback

Morgan Stanley profit jumps on bond-trading comeback
 

Morgan Stanley (MS.N) reported a better-than-expected profit on Wednesday, boosted by a surge in bond trading that helped all Wall Street banks last quarter.
Morgan Stanley's gains were especially notable. Its adjusted bond-trading revenue more than doubled, hitting Chief Executive James Gorman's revenue target for that business for the second quarter in a row.
The bank had struggled for years to improve in bond trading, which has volatile revenue and tough capital requirements to meet. Earlier this year, Morgan Stanley restructured the unit, cutting 25 percent of staff and appointing new... read more

 
19 October 2016 in Business, Views: 79
Source: Reuters
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