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| Brief Excerpt: | ...Another Quarter of Solid IB Results: Investment Banking (IB) results in 4Q17 were strong on a year over year basis due to solid growth in debt underwriting amid a strong leveraged finance market; an increase in equity underwriting driven by a good secondary offerings market; and continued growth in advisory net revenues. Trading Results Continue to Trend Lower: Trading revenue tumbled due to a 31% year over year decline in fixed income, currencies and commodities (FICC) net revenue as client engagement levels fell across multiple products. Equity trading net revenue was down more modestly at 7%, primarily due to lower revenue related to derivatives trading. Markets Favorable for IB; Negative for Trading: Historically low volatility as measured by the VIX Index continued to create a favorable environment for underwriting while at the same time weighing on overall trading results. Firms cited rates, currencies and commodities as areas of softness this quarter. Goldman Sachs (GS) in particular... |
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| Report Type: | |
| Company(ies) | Merrill Lynch & Co/USA
, MORGAN GUARANTY TRUST CO OF NEW YORK ET AL
, JPMorgan Chase & Co
, Bank of America Corporation
, Associates First Capital Corporation
, Bank of America NA
, Merrill Lynch & Co., Canada Ltd.
, The Goldman Sachs Group, Inc.
, Nationsbank Corp/Jacksonville
, FleetBoston Financial Corporation
, MBNA Corporation
, Morgan Stanley
, Citigroup Global Markets Holdings Inc.
, Citibank, National Association
, Countrywide Home Loans, Inc.
, Chase Capital II
, Bankamerica Capital III
, NB Capital Trust III
, First Chicago NBD Capital I
, Chase Capital III |
| Ticker(s) | BAC
, BHW
, C
, CFCB
, GS
, JPM
, MS |
| Issuer | ZAO Citibank |
| Format: | | PDF |  |
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