Investment Banking

Goldman trading bonanza sends revenues to ‘almost indecent’ $13bn as Main Street suffers

Such stellar results are likely to have political ramifications as the overall economy slumps, says one analyst

Wednesday 15 July 2020 at 14:20

David Solomon of Goldman Sachs
David Solomon of Goldman Sachs Photo: Getty Images

Goldman Sachs' second-quarter earnings blew analyst expectations away. Investment banking fees hit record highs, while its hulking fixed income unit posted its best three-month period in nine years.

Sales in Goldman's markets division almost doubled, surging 93% to rake in $7.2bn.