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Wall Street Trading Revenue Seen Falling 4th Straight Quarter

A surge in market volatility following Japan’s worst earthquake on record and a jump in oil prices may not be enough to keep investment-banking and trading revenue from falling for a fourth consecutive quarter.

Analysts have lowered first-quarter earnings estimates at the biggest U.S. banks, saying trading revenue won’t rebound as much as they had expected from a weak fourth quarter. The outlook for the period fuels speculation that Wall Street is facing a prolonged decline in investment-banking and trading revenue after record figures in 2009.