What to Expect From JPMorgan, Citi After Goldman's Bond-Trading Miss

JPMorgan Chase and Citigroup will report earnings today after Goldman Sachs revealed an unexpected 10% decline in bond-trading revenue on Monday, raising concerns about fixed-income market performance. Analysts now anticipate weaker-than-expected bond-trading results from both banks, given Goldman’s miss—a key indicator for Wall Street’s trading desks amid volatile market conditions. The reports come amid rising interest rates and shifting Fed policies, which have squeezed profit margins in fixed-income trading, a historically lucrative segment for major banks. JPMorgan’s diversified business model may offset some losses, while Citi’s heavier reliance on trading could expose it to greater volatility, per industry experts. Investors will scrutinize both banks’ guidance on future trading revenue, as Goldman’s miss signals potential broader weakness in capital markets activity.