After 2 Years, Citi Returns to Profit
(NYTimes) — The results, which beat analyst expectations and were the highest since the housing crisis began, was a result of the resurgence in the bond market and improvements in the economy, particularly overseas. Both play to Citigroup’s strengths as a major player in fixed income and emerging markets, and come as some of its rivals benefited from similar trends.
JPMorgan Chase and Bank of America both reported big first quarter profits from hefty trading profits and from adding less money to their loan loss reserves.
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