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

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

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….

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.