Goldman Bond Trading Miss Outweighs Equity Record

Bloomberg Intelligence Financials Analyst, Neil Sipes discusses Goldman Sachs' earnings out before the bell Monday.

Goldman Sachs Group Inc. shares fell after the bank reported a surprise drop in bond-trading revenue, casting a shadow over what was another record quarter from the firm’s equities team.
Fixed-income, currency and commodities revenue was $4.01 billion for the first quarter, according to a statement Monday.

That was more than $800 million below the consensus of analyst estimates compiled by Bloomberg and 10% less than the same period last year.
The bank also warned investors that its backlog of fees decreased slightly compared to the previous quarter.
Shares of the company slumped 4.2% to $869.88 at 9:33 a.m. in New York, by far the biggest decline in the 24-company KBW Bank Index.

The drop left the stock down 0.8% for the year.
(Source: Bloomberg)