Goldman Sachs' Worst Business Is Still Struggling Mightily
Goldman reported a 40% drop in bond trading in the second quarter.
Goldman Sachs Group (GS) - Get Report CFO Marty Chavez said that the fixed income trading market has not improved much since the second quarter. He spoke during a conference call with fixed income traders Tuesday.
Goldman reported a 40% drop in bond trading revenue in the second quarter, leading to the worst commodities results the bank has ever posted. Chavez said that the downturn had "essentially continued into this quarter," according to Reuters.
Goldman Sachs shares were up 0.93% to $227.43 in afternoon trading Tuesday.
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