Citigroup Traders Post Bumper Haul on Trump Tariff Upheaval

Citigroup Inc.’s traders rode the tariff-induced volatility in markets to their best second quarter in five years, with revenue buoyed by record trading volumes in the quarter.

Revenue from the bank’s fixed-income trading business soared 20% to $4.3 billion, beating the $3.9 billion predicted by analysts in a Bloomberg survey. Citigroup’s stock traders hauled in $1.6 billion, also surpassing expectations, aided by a surge in prime balances to record levels during the period.