Forex results strong in Q4
The fixed income, currency and commodities (FICC) business at Goldman Sachs generated net revenues of $3.3 billion, up 6% from Q4 2006, due to higher revenues in currencies and interest rate products.
Similarly, Morgan Stanley said high volatility led to stronger results in interest rates, emerging markets and FX, but would not provide figures.
However, results were overshadowed by mortgage-related writedowns that led to a record net revenue loss from fixed-income sales and trading of $7.9
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