Citi Fixed-Income Trading Surges 49%

(Bloomberg) — Citigroup Inc. cut traders — and got its mojo back.Revenue from fixed-income trading surged 49% in the fourth quarter — more than double the increase predicted by analysts — after a slump that rattled the industry a year ago. The rebound, combined with surprisingly strong earnings from debt underwriting and consumer banking, pushed net revenue for the period to the highest since 2015.The finale puts the trading division on stronger footing heading into a new decade, as executives pursue a series of profitability targets that have led to dismissals when revenue faltered. On Tuesday, they vowed to keep …read more

Source:: Yahoo Finance