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Goldman Sachs and Morgan Stanley investors eye boosted FICC action at JPM, Citi

Oct. 14, 2014 11:10 AM ETThe Goldman Sachs Group, Inc. (GS) StockGS, MSBy: Stephen Alpher, SA News Editor
  • JPMorgan scored a 2.1% Y/Y increase in FICC revenue in Q3, also up 0.9% from the previous quarter. This comes following sizable trading revenue declines in previous quarters, and further slippage had been expected this quarter.
  • Also reporting today, Citigroup showed a 6.7% rise in trading revenue, topping its own guidance.
  • The results, says Credit Suisse's Christian Bolu, bode well for Goldman Sachs (GS +0.7%) and Morgan Stanley (MS +0.8%). Helping was the return of at least a little volatility in September (there's been plenty more in Q4's first month), not to mention an easy comparison with last year's poor levels.
  • CS's Bolu previously expected Goldman to show a 3% Q3 FICC revenue drop and Morgan a 16% decline.
  • Previously: JPMorgan: Interest income and FICC gain
  • Previously: Citigroup +2.3% after earnings beat

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