Morgan Stanley Posts Another Good Quarter, Logs Record Full-Year Revenue, Profits

Morgan Stanley rounded out big bank earnings on Thursday, after the rest of the street turned in decent numbers (sans Wells Fargo, as usual), highlighted by a big rebound in trading, where FICC results have been off the charts thanks in no small part to an easy comp versus 2018's harrowing final quarter. In the third quarter, Morgan was a FICC standout, as sales and trading revenue jumped 21%. Based on the blockbuster bond trading results posted by its peers in Q4, an encore seemed likely. In