Jefferies Posts Biggest Fixed-Income Rise in Eight Quarters
- Bond-trading revenue at Wall Street bellwether jumps 55%
- Results reflect rebound from quarter that ‘humbled’ CEO
Jefferies' Bond-Trading Revenue Surges 55%
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Jefferies Group posted a 55 percent surge in bond-trading revenue, the biggest increase since the third quarter of 2014, helping the firm recover from a punishing loss in the previous three months.
Revenue from trading fixed-income securities in the fiscal second quarter ended May 31 rose to $238.5 million, the New York-based investment bank said Tuesday in a statement. That’s the most in a March-through-May period since 2012. Net income fell 9.9 percent to $53.9 million from a year earlier as fees from underwriting stocks and bonds declined by more than half.