Fixed Income Bloodbath: Jefferies Reports Negative Revenue On Junk Bond Prop-Trading Fiasco

by Tyler Durden
ZeroHedge.com
09/17/2015

Earlier today, Jefferies which is now a part of Leucadia, provided this much anticipated glimpse into how the rest of Wall Street is doing. The answer, if Jefferies is any indication, is “quote horribly” because just like two of the past four quarters, Q3 was also a disaster and indicative of nothing short of a trading bloodbath on Wall Street in the past three months of trading and especially August. In fact, it was so bad for Jefferies, it reported a massive 31% plunge in total revenues down to $579 million resulting in net income of a tiny $2.5 million as a result of what may be only its first negative fixed income revenue print since the financial crisis.

The Rest…HERE

This entry was posted on Thursday, September 17th, 2015 at 11:28 am and is filed under Conspiracy, Corruption, Economics, Government Evil, New World Order. You can follow any responses to this entry through the RSS 2.0 feed.