U.S. Investment Banks Take Big Hits In First-Quarter Trading Results
NON-BANKS
If the reported $111 million loss in first-quarter foreign exchange trading revenues by Salomon Brothers is any indication, U.S. investment banks may have had a more difficult quarter than the commercial banks, sources say. But actual quarterly forex performance by these institutions is difficult to gauge, since most do not break out FX trading revenues in earnings reports and many decline to release trading results.
Investment banks may have been hit harder than commercial banks since they tend
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