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Morgan Stanley

Morgan Stanley doubled bond trading revenues

The investment banking group Morgan Stanley reports large increase in bond trading revenue, as the revenue from fixed-income assets doubled to 1.71 billion USD against expectations of 1.56 billion USD. The revenues from stock trading shrunk by 1.9% to 2.02 billion USD, which is still above the 1.92 billion USD of the analysts forecasts.

“We are reporting one of our strongest quarters in recent years”, said the CEO of Morgan Stanley, James P. Gorman. “All of our business units are performing well under improved market conditions. We are confident of our business model and future opportunities, while we know that the environment remains uncertain”, added he.

For the fourth consecutive quarter, Morgan Stanley records revenues from bond trading of over 1 billion USD. The fixed-income asset trading Unit is key to return plans. It was reformed at the end of 2015, after revenues fell to 550 million USD in the last quarter of this year.

Net profit of Morgan Stanley jumped by 70% to 1.93 billion USD (1.00 USD per share) from 1.13 billion USD (0.55 USD per share) an year earlier. The average expectations of analysts were for a profit of 0.90 EUR per share.

Morgan Stanley’s results follows the surprisingly disappointing Goldman Sachs report on Tuesday, while Bank of America surpassed expectations.

About James McGovern

James McGovern is from Arizona, USA. He is business analyst and writer at Finance Apprise Journal, responsible for finance and trading sections, as well as news from USA and Canada.

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