Deutsche Bank Says Trading Revenue to Drop as Much as 20%
- CFO von Moltke says demand for macro products is trailing off
- German lender joins Wall Street firms predicting trading drop
James von Moltke
Photographer: Jens Krick/Getty Images
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Deutsche Bank AG expects trading revenue to decline by as much as a fifth this quarter, the first major European investment bank to warn of a significant slowdown.
Fixed income trading will drop 15% to 20% compared with the bumper quarter a year earlier, Chief Financial Officer James von Moltke said Thursday. Analysts were expecting a decline of about 12%.