Major banks report strong gains

Deutsche Bank posted a record high in sales and trading revenues for debt and other products, including FX at €6.2 billion ($8.5 billion) in the first half of the year. This is up from €5.3 billion in the first half of 2006. Deutsche attributed the gains to strong performances in credit products and emerging markets debt, with more moderate increases in FX, money markets and rates.

HSBC said net trading income from corporate, investment banking and markets, including FX activities, reached $2.9