Regulatory uncertainty hits US banks’ Q2 results

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Goldman Sachs' net revenues in fixed income, currencies and commodities (FICC) were $4.40 billion, 35% lower than Q2, 2009 and 40% lower than Q1, 2010. "During the second quarter of 2010, FICC operated in a challenging environment characterised by lower activity levels and wider corporate credit spreads," the bank said. "The decline in net revenues compared with the second quarter 2009 reflected significantly lower results in credit products, interest rate products and currencies."

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