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Morgan Stanley Tops Rivals With Jumps in Trading, Deal Fees

  • Bank posts surprise gain in fixed-income unit in third quarter
  • Shares climb in pre-market trading as profit tops estimates
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Bloomberg Intelligence’s Alison Williams examines third-quarter results from Morgan Stanley.(Source: Bloomberg)
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Morgan Stanley’s capital-markets businesses are firing on all cylinders.

The bank was the only Wall Street firm to beat analyst expectations in three main businesses: fixed income, equities trading and investment banking. The firm’s dealmakers posted a 15 percent jump in revenue, higher than each of Morgan Stanley’s rivals.