Fixed-Income Revenue Dropped Last Year to Lowest Since 2008
- FICC product sales slumped 9% in 2015 to $69.9 billion
- Worst performers were credit, securitized products: Coalition
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The world’s biggest banks last year generated the least revenue from fixed-income products since the 2008 financial crisis as businesses under-performed, clients pulled back from trading and assets lost value, according to research firm Coalition Development Ltd.
Sales from fixed-income, currencies and commodities products, known as FICC, fell 9 percent in 2015 to $69.9 billion, said Coalition, which surveyed lenders including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Deutsche Bank AG. Sales of credit products, including distressed debt and bonds in emerging markets, slumped 32 percent to $12.4 billion, about half of what banks generated from the assets in 2010.