The world’s banks are on track to report the lowest revenue from foreign exchange and rates trading since the pandemic, hit by tighter margins and a challenging macroeconomic backdrop.
Over 250 firms including Goldman Sachs Group, JPMorgan Chase & Co., Citigroup and Morgan Stanley are forecast to make a total of US$32 billion ($42.88 billion) from trading of G10 rates and US$16.7 billion from currencies, according to data collected by Coalition Greenwich. That’s about 17% and 9% less than last year, respectively.
