Jefferies sees bond trading fall by 30%

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Jefferies Group, the investment bank run by Richard Handler, said bond-trading revenue fell 30%, extending a first-quarter slump.

Bloomberg News reports that fixed-income revenue dropped to $153.4m in the three months ended May 31 from $217.7m a year earlier, the company, which is owned by Leucadia National, said Tuesday in a statement.

Total net revenue at Jefferies climbed 9.4% to $791.6m as the equities and investment-banking divisions won more business.

The rest of Wall Street tracks Jefferies’s trading results for clues about how larger rivals, which close their quarters a month later, are faring. 

'Our momentum has continued in investment banking', Handler, 54, said in the statement. 'Our equity net revenues were strong'.

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

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