MM121: Goldman profit plunges & has the UK turned the corner with inflation?
Market Maker
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Goldman's Report: F I C C and Equity Trading
The single only bright spot in this whole report was very specifically the revenue from the equities trading division, which actually went up year on year. But if you take it as a whole, then their investment bank division, like all of these banks suffered,. The revenues from the investment banking side was down 1.4 billion. So Goldman's have underperformed on the IBSide relative to certainly JP Morgan. They've even underperformed compared to Morgan Stanley. And this has to be a line drawn and they have to now get better for themselves.
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