Wild markets wreaked havoc on Citigroup's trading desks last quarter, and 'everything' took a hit
2 days ago - By Business Insider
Traders usually long for market volatility.
But the volatility that materialized in the fourth quarter was the bad kind - spooking investors from participating rather then spurring more action.
That wreaked havoc on Citi's trading businesses in the fourth quarter, and other banks are bracing for trading losses , too.
Wall Street traders usually long for market volatility, which tends to drum up business as their clients feel more compelled to make make moves and try and capitalize on the swings.
Traders got what they asked for in the fourth quarter of 2018 - but they got the "bad" kind of...
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