Wall Street banks' bond trading revenue hit by market volatility, equities shine

What happened: Wall Street banks saw fixed-income trading revenue fall amid interest rate volatility and a bond market selloff, while equities trading revenue grew at firms including Goldman Sachs and Morgan Stanley. Key numbers: Treasury yields surged to multi-decade highs. Why it matters: The decline in fixed-income revenue came with reduced client activity in that sector, contrasting with notable equities trading growth at Goldman Sachs and Morgan Stanley.

Wall Street banks saw fixed-income trading revenue fall amid interest rate volatility and a bond market selloff, while equities trading revenue grew at firms including Goldman Sachs and Morgan Stanley.

The decline in fixed-income revenue came with reduced client activity in that sector, contrasting with notable equities trading growth at Goldman Sachs and Morgan Stanley.