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THE SCOREBOARD: Here's how terrible last quarter was for Wall Street

Portia Crowe   

THE SCOREBOARD: Here's how terrible last quarter was for Wall Street
Finance1 min read

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CBC

The last quarter was a rough one for Wall Street banks.

Trading - especially bond trading - was hit hard during the third quarter as debt traders started worrying about a potential economic slowdown.

Fixed income, currencies, and commodities revenues were down 23%, according to research from Deutsche Bank analyst Matt O'Connor.

Morgan Stanley and Goldman Sachs fared the worst there.

Capital market revenues were down 12% year-on-year on average, according to the note.

Investment banking fees were down 4% from the same period last year, with Citigroup hardest hit. Goldman Sachs and JPMorgan came out ahead in investment banking, up 6% and 5% year-on-year, respectively.

Equity trading revenues were up, but total trading was down on average 12% year-on-year.

Here's that breakdown for you in a chart from Deutsche Bank:

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Deutsche Bank

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