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BofA trading revenue misses target in sign markets frenzy fading
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fnlondon.comBank of America's trading revenue missed estimates in a sign the market frenzy that helped propel bank sales last year is waning.
Trading sales were up 1% to $15.1bn for 2021. The bank's fixed-income unit, which fuelled growth across Wall Street in 2020, was down by 9%, but its stock traders brought in $6.4bn, an increase of 19% on the previous year. Both units missed analyst expectations.
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