JPMorgan in trading drop

JPMorgan Chase

JPMorgan Chase said revenue from its trading businesses has dropped 15% so far in the second quarter from the same period a year ago because of low market volatility.

Bloomberg News reports that fixed-income trading is down for the first two months of the period and equities are up “slightly,” Chief Financial Officer Marianne Lake said Wednesday at an investor conference in New York. Lake said she doesn’t see any particular reason those trends would change in June.

Revenue from the world’s biggest investment banks is likely to drop in the second quarter, ending a rebound in fixed income, analysts at New York-based JPMorgan said this month. The U.K.’s exit from the European Union and Donald Trump’s surprise election win fueled more wagers on corporate bonds and the direction of interest rates over the past year, boosting Wall Street trading revenue.

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JPMorgan Trading Revenue on Pace to Drop 15% This Quarter

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