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Goldman Sachs’ FICC (fixed-income, currencies and commodities) business posted its worst year since 2005
Goldman Sachs’ FICC (fixed-income, currencies and commodities) business posted its worst year since 2005
(LUCAS JACKSON/REUTERS)

Fixed-income business turns ugly for U.S. banks

Rocky bond markets continue to dog the biggest U.S. banks, raising fears about what the future will hold as the Federal Reserve exits its enormous bond buying program.

For the second straight quarter, banks such as Citigroup and Goldman Sachs saw their fixed-income arms suffer from weak trading volumes and investor uncertainty, even though the Fed has barely started to curtail its monthly bond purchases.