Goldman Sachs Said to Close Fixed-Income Prop Group

Goldman Sachs Group Inc., the U.S. bank that relies on fixed-income trading for the largest portion of its revenue, will shut its Global Macro Proprietary Trading desk, a person with knowledge of the decision said.

The eight-person desk, which trades currencies and stocks as well as products tied to interest rates and other fixed-income markets, will close in the days ahead, said the person, who declined to be named because the decision wasn’t public. Stephen Cohen, a spokesman for New York-based Goldman Sachs, declined to comment.