Citigroup expects decline in trading revenue

Citi Building Sign

Citigroup Chief Financial Officer John Gerspach said revenue from fixed-income and equities trading will decline by 'mid- to high-single' digits in the first quarter from a year earlier.

Bloomberg News reports that a slow start in spread products and a January loss from price swings in the Swiss franc are contributing to the expected drop, Gerspach said Monday at an investor conference in Orlando, Florida.

'We have seen strong client activity across rates and currencies this quarter and, in particular, in our local markets franchises', Gerspach said. 'We still expect rates and currencies revenue to grow year over year'.

To access the complete Bloomberg News article hit the link below:

Citigroup CFO Sees First-Quarter Decline in Trading Revenue

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