Finance
JPMorgan Traders Notch Record Fourth Quarter on Volatility
- Fixed-income trading beats estimates as equities falls short
- Bank again sets record for annual profit, with $58.5 billion
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JPMorgan Chase & Co.’s traders scored their biggest fourth-quarter haul ever, boosted by volatility tied to the US elections in November.
Trading revenue at the firm rose 21% from a year earlier, jumping to $7.05 billion. Fixed-income was the star, with revenue beating analysts’ estimates, while equities-trading revenue fell short.