Investment banks’ record year

For both banks, this includes increasing currency revenues, although they do not give a specific figure for FX earnings within fixed income.

Lehman Brothers earned $4.4 billion for fixed income in the 12 months ending November 30, a 68% rise on last year’s figures of $2.6 billion. The “near-record” revenue levels reflected both the “product diversity” and “breadth” of the fixed-income business, said the bank.

Higher volumes of institutional customer flow in Lehman’s fixed-income business also

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