By David Benoit
Investment banks are wracking up revenue from wild market swings on President Trump's pronouncements on tariffs. And that's not even counting since "Liberation Day."
JPMorgan and Morgan Stanley both got huge boosts in their businesses helping clients trade equities in the first quarter, back when Mexico and Canada were the tariff headlines.
Revenue in JPMorgan's equity business rose 48% to a record $3.81 billion. At Morgan Stanley, it was up 45% to $4.13 billion.
Fixed-income trading revenue was also up at both banks, though that likely really picked up in the last week.
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(END) Dow Jones Newswires
April 11, 2025 07:41 ET (11:41 GMT)
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