Goldman's commodity record
Record results for first-quarter 2009 commodity trading driven by competitive dynamics, wider margins and liquid transactions
Goldman Sachs reported a record first-quarter result for commodity trading, with net revenues from fixed income, currency and commodities (FICC) more than double the first-quarter 2008 results.
Net revenues from FICC totalled $6.5 billion in the first quarter of 2009, a 34% increase from the previous quarterly record of $4.9 billion in the third quarter of 2007. This included record results in interest rate products and commodities, according to the bank.
Goldman Sachs attributed the results to
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