Morgan Stanley Banking, Debt Trading Surpass Goldman First Time
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Morgan Stanley’s second-quarter revenue from both investment banking and fixed-income trading beat Goldman Sachs Group Inc.’s for the first time on record.
Fixed-income trading generated $2.09 billion for Morgan Stanley and investment banking brought in $1.47 billion, while Goldman Sachs reported $1.6 billion and $1.45 billion, respectively. New York-based Morgan Stanley has never outperformed its larger rival in both those businesses simultaneously in the 11 years it’s reported fixed-income trading results, company filings show.