Goldman Sachs’ fixed income division held up in the second quarter with a strong year-on-year improvement, although overall revenues at the US investment bank slipped by 9%, dragged by its Investing and Lending business.

The fixed income, currency and commodities division, which has formed a key part of the bank's business in recent years, recorded revenues of $2.19bn, which was a 37% uptick from the $1.59bn recorded in the second quarter of last year.