Goldman Sachs saw summer trading breakdown
The champion trader of Wall Street experienced a slowdown that was sharper than expected and more severe than at other big banks.
Wall Street had been well prepared for a drop off, especially after other big banks like Citigroup reported in recent days weakness in third-quarter fixed income trading revenue, but Goldman’s trading slowdown was sharper than expected and more severe than at other big banks.
In other words, Goldman was thrown off its trading game as the Federal Reserve threw its summer head-fake about diminishing its massive bond buying program.
MORE ON MSN MONEY
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The Fed may start tapering in just a few months. Here are a few of the likely winners and losers.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.