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Goldman Sachs Traders Make $300 Million on Inflation in First Quarter

  • Wall Street bank made most of its gains from euro-based trades
  • Traders win on volatility spurred in part by Ukraine war
Goldman Sachs made about $450 million from the business for all of 2021, double what the firm made in previous years, Bloomberg reported in February.  

Goldman Sachs made about $450 million from the business for all of 2021, double what the firm made in previous years, Bloomberg reported in February.  

Photographer: Amir Hamja/Bloomberg

Traders at Goldman Sachs Group Inc. have made hundreds of millions of dollars from inflation trading so far this year, as the Wall Street giant benefits from the war-fueled surge in European consumer prices.   

The bank generated about $300 million in the first quarter from dealing in bonds and derivatives tied to inflation, about double the tally of the same period a year ago, according to a person familiar with the matter. The lender’s traders made much of their money from euro-based transactions, an already-surging market that has jumped to unprecedented levels since Russia’s invasion of Ukraine, the person said.