Citigroup has suffered a significant decline in trading revenues that threatens to depress its earnings, according to people familiar with conversations between investors and the bank in recent days.
With a week to go before the end of the quarter, the US’s third-largest bank by assets appears ready to join several of the powerhouses of bond trading in reporting a slide in trading revenues after a sharper-than-expected summer slowdown in markets businesses.
Those familiar with Citi’s discussions with its investors said that the bank had highlighted a market-wide slowdown in activity. Some investors believe that revenues will fall by significantly more than 10 per cent.
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