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Fixed income trading has fallen off in the second quarter, as investment banking fees hit new highs

Investment Banking Editor

JPMorgan's investment bank slipped in the second quarter as the boom in trading revenues throughout the Covid-19 crisis has finally started to wane.

The US bank posted net profits of $11.9bn, ahead of the $9.5bn expected by analysts as it reversed credit losses booked last year with a $3bn gain. Revenues across the bank were $31.4bn, again coming in ahead of consensus.

JPMorgan’s investment bank slips by 19% as trading boom wanes

Paul Clarke

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