Mixed fortunes for US banks
NEW YORK - Fortunes fluctuated in the five sets of US bank first-quarter results unveiled last week. Bank of America led the way, with $4.6 billion in fixed income (FI) revenues for the first quarter.
The rates and currencies team accounted for a whopping 78% of BoA's FI revenues as the division reaped the rewards of market volatility. The huge improvement in rates and currencies from $717 million in Q1 2008 was also attributed to the "global breadth of product and distribution capabilities"
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