JPMorgan Posts Strong Q1 Results On The Back Of Debt Trading Gains

The highlight of JPMorgan's results was the strong revenues churned out by its FICC (fixed income, currencies and commodities) trading desk. While the cyclical investment banking business normally generates maximum cash in the first quarter, the FICC trading business has been plagued by weak activity levels for several quarters now. The reversal in fortunes for the business should help JPMorgan maintain its extremely diversified business model even as stringent capital requirements put pressure ...