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JPMorgan's Bond-Trading Lead Slips as Citigroup, Europeans Gain

  • Only Goldman’s smaller franchise gave up more ground in 2017
  • In equities, BNP Paribas increased its share more than peers

Brutal conditions for fixed-income traders last year hit the market’s dominant bank a bit harder than others.

JPMorgan Chase & Co. lost some of its edge as the top firm that helps big investors bet on bonds, currencies and commodities -- while second-place Citigroup Inc. inched closer and a few European rivals gained. The only bank that ceded more ground than JPMorgan was Goldman Sachs Group Inc., a smaller franchise where results got dragged down by losses in areas including gas and power.