Fixed-income revenue drop at Jefferies

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Jefferies Group, the investment bank run by Richard Handler, said fixed-income revenue dropped 56% to $126m in the first quarter amid fewer high-yield bond offerings.

Bloomberg News reports that total revenue fell 34% to $591.7m in the three months ended February 28 compared with a year earlier, the company, which is owned by Leucadia National, said Tuesday in a statement.

'We experienced a slow first quarter due to a tepid fixed income-trading market and fewer new issues in leveraged finance capital markets', Handler, 53, and Leucadia President Brian Friedman, 59, said in the statement.

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

Jefferies Fixed-Income Revenue Plunges 56% in Slow Market

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