 "Goldman Sachs")
Goldman Sachs Group Inc on Monday reported a smaller-than-expected 48% slump in second-quarter profit, buffered by the strength in its fixed-income trading as investors realigned their bets amid heavy market fluctuations.
Revenue at the global markets unit, which houses Goldman's trading desks, jumped 32% to $6.47 billion, with fixed income, commodities and trading revenue surging 55% and equities revenue adding 11%.
This helped the bank offset a hit to investment banking business due to a plunge in underwriting activity and deals as a risk-averse sentiment gripped global markets.
Its quarterly report rounds off earnings from big banks and mirrors peers JPMorgan Chase &
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