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Trading pillar weakens at Goldman

Goldman Sachs reported its second-quarter earnings Tuesday. While revenues were up 2% over the first quarter and 13% over the second quarter of 2016, revenues from its fixed-income, currency and commodities business were down -31% and -39% over those periods, respectively.

Once making up more than one-third of its total revenue, the bank’s trading business has faltered recently in part due to new technologies continuing to push into asset management. Officially, the bank said the low-volatility environment and slow client activity contributed to the decline. Trading revenues among bond securities, currencies and commodities were about 14.7% of revenue in the second quarter, down from 21% in the first quarter; total 2016 revenues from this sector were about one-quarter of company revenue.