Trading Gains Fall At U.S. Banks In Early First-Quarter Earnings

U.S. banks have begun to release first-quarter earnings and so far, the first quarter is panning out as a difficult one for trading rooms in general. Most of the banks that released earnings last week will not break-out foreign exchange trading revenues, but overall trading largely declined during the period.

JP Morgan reports total trading revenues of $356 million for the first quarter, down 24 per cent compared with $469 million a year earlier. The bank's quarterly report says there was a $41