Wall Street's Bond-Trading Slump Extends Into Third Year: Chart

Dow Snaps 10-Day Rally as Consumer Confidence Declines

Pedestrians pass in front of the New York Stock Exchange in New York.

Photographer: Scott Eells/Bloomberg

Once Wall Street’s most lucrative business, fixed-income trading revenue declined for the third straight year in 2015. Net income from trading bonds, currencies, commodities and derivatives linked to them has fallen between 18 percent and 25 percent at five top banks since 2012.

Fixed-income has been in a slump with interest rates languishing near zero, oil prices falling and regulations making it tougher to place easy bets on future prices.
Morgan Stanley said Tuesday that it doesn’t expect a rebound any time soon.

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