Citigroup (C) Q3 Trading Revs May See Large Drop
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Financial Fact:
Provision for loan losses: 1.75B
Today's EPS Names:
ORPB, ONEG, NDLS, More
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Citigroup (NYSE: C) is lower early Monday following reports that the bank might report
According to theFinancial Times, Citi's third-quarter 2013 trading revenue may have dropped 10 percent or more as its markets business saw a worse-than-expected slowdown over the summer.
The number compares with a 42 percent pop recorded in the prior period, bolstered by bond trading revenue and stronger home prices helping bad mortgages on its portfolio.
Citi said that slowdown in bond markets was an industry-wide eent. The company has broad exposure to emerging markets, interest rates, and foreign exchange. Emerging markets have been volatile since chatter that the Fed would put on an early taper to its bond-buying program began circulating.
Shares of Citi are lower Monday. The bank is expected to report Q3 results on October 15th.
significantdrop in quarterly trading revenue.
According to the
The number compares with a 42 percent pop recorded in the prior period, bolstered by bond trading revenue and stronger home prices helping bad mortgages on its portfolio.
Citi said that slowdown in bond markets was an industry-wide eent. The company has broad exposure to emerging markets, interest rates, and foreign exchange. Emerging markets have been volatile since chatter that the Fed would put on an early taper to its bond-buying program began circulating.
Shares of Citi are lower Monday. The bank is expected to report Q3 results on October 15th.
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