Bonanza: Wall Street-Main Street Divide Laid Bare During US Economy’s Worst-Ever Quarter

Bonanza: Wall Street-Main Street Divide Laid Bare During US Economy’s Worst-Ever Quarter

Morgan Stanley joined Goldman Sachs in reporting what might be described in some corners as "indecent" results on Thursday. Like Goldman, Morgan's trading performance in fixed-income was outstanding. Sales and trading revenue totaled $3.03 billion in the second quarter, making a mockery of forecasts, which called for $1.81 billion. In equities, the bank generated $2.62 billion in revenue, also ahead of estimates. All told, sales and trading revenue jumped 68% YoY. Morgan explained the results
Subscribe or log in to read the rest of this content.

2 thoughts on “Bonanza: Wall Street-Main Street Divide Laid Bare During US Economy’s Worst-Ever Quarter

  1. Good Post H…… (as usual)……In my mind this confirms my opinion that Bank earnings going forward may experience a likely negative delayed reaction….. A lot of one time events in the 2nd quarter are seen but not understood completely (by me ) but hopefully someone has a handle on all this….

  2. Looks like the 1% was busy widening the gap. I guess most of them weren’t hurt too badly by the shutdown and they had some time to find some bargains.

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.

NEWSROOM crewneck & prints