Goldman Sachs Rates Trading Hit by Iran War Volatility
Goldman Sachs saw a 10 percent drop in FICC revenue as Iran war volatility hit its rates business. Executives remain confident despite gains at rival firms.
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The fixed-income trading division at GOLDMAN SACHS GROUP INC faced a challenging first quarter as geopolitical instability involving Iran triggered significant market volatility. The bank's fixed income, currencies, and commodities (FICC) unit saw revenue drop 10% to $4.01 billion, primarily due to a slowdown in interest rate trading and credit products.
