Citigroup's trading revenue slows

Citi Building Sign

Citigroup’s first-quarter gains in trading revenue haven’t continued into the second, which looks to be holding at about the same level as a year earlier, CEO Michael Corbat said.

Bloomberg News reports that while trading in currencies and rates picked up steam in the first three months of 2015, there isn’t 'the same conviction' now, Corbat said Thursday at a conference in New York.

Trading results are more in-line with the second quarter of 2014, when the bank brought in $3.74bn from trading in fixed-income and equity markets, he said.

Corbat’s assessment is similar to forecasts from his counterparts at other major U.S. banks on Wednesday. JPMorgan CEO Jamie Dimon said his firm’s trading revenue is on pace with last year’s second quarter, when it was about $4.5bn, not counting businesses he has since sold.

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

Citigroup’s Corbat Says Trading Softened From First Quarter

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