The big issues

The finance sector is doing part of its job right

Sep 28th 2013

GLOOMY headlines predominate in the banking industry. JPMorgan Chase was this month fined nearly $1 billion by regulators in relation to the “London Whale” trading scandal. Barclays and Credit Suisse have already revealed that revenues in their fixed-income sales and trading divisions were poor in the third quarter; Citigroup, Deutsche Bank and others are expected to say something similar. Trading volumes seem to have slumped over the summer as investors contemplated the potential “tapering” of bond purchases by the Federal Reserve (such inactivity may well continue now that the Fed has delayed its taper).

This article appeared in the Finance & economics section of the print edition under the headline “The big issues”