US Investment Banks Report Strong Q1 Trading Results

BANKS

NEW YORK--The first quarter of 1999 provided good profit-taking opportunities for the US investment banks, although FX trading was slower than in previous periods, say market officials.

While the US investment banks do not break out FX from their other trading results, many are showing strong trading gains over the previous quarter.

This is due in part to the weaker results reported during the second half of last year, as a result of the hedge fund debacle and associated emerging markets volat