BofA Bond, Stock Trading Revenue Said to Decline This Year
- Fixed-income trading said to drop 10% from a year earlier
- Revenue from equity trading said to slump 11% to 12%
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Bank of America Corp. has generated less revenue from its equity and fixed-income trading businesses so far this year than in the same period of 2015, according to people with knowledge of the matter.
The second-largest U.S. lender’s revenue from fixed-income trading, which includes credit, currencies and commodities, dropped about 10 percent from a year earlier, the people said, asking not to be identified discussing the firm’s performance. The bank has collected 11 percent to 12 percent less from equity trading this quarter than last year, one of the people said.