The world’s biggest investment banks increased sales from trading bonds for the first time since 2012, relieving pressure on the leaders of troubled European lenders as they pushed through job cuts and overhauls.
The 12 biggest investment banks, ranging from Goldman Sachs Group Inc. to Barclays Plc, increased fixed-income sales 9 percent to $75.9 billion last year, according to a report from Coalition Development Ltd. The hike also eased the pain of a slump in stock trading and advising clients on mergers, acquisitions and underwriting, both of which fell to the lowest since 2012, the report shows.
