Bloomberg News reports that Europe’s largest investment bank on Thursday posted a 16% increase in revenue from trading debt and currencies, surpassing analyst estimates. Barclays said last week that income from its rates and currency businesses jumped 10% as the political turmoil in Greece boosted volatility.
'One quarter of positive trading growth has created more problems than it’s solved for these banks', said Chirantan Barua, a banking analyst at Sanford C. Bernstein in London. 'Management are now starting to doubt themselves and think we need to retain these desks and give our traders more capital as markets might just come back'.
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