citigroup inc. said fourth-quarter trading so far is <u+201c>meaningfully better<u+201d> than a year ago. the bank<u+2019>s president, jamie forese, said at a conference wednesday that citigroup<u+2019>s trading levels had been boosted by last week<u+2019>s surprise election results, which elevated donald trump to president-elect. but mr. forese, who runs citigroup<u+2019>s institutional businesses, also cautioned that the quarter is only halfway over. <u+201c>there<u+2019>s plenty to play out still.<u+201d> he also said fourth-quarter trading would be lower than the third quarter, when banks benefited from uncertainty over when the federal reserve might raise interest rates and continued fallout from the u.k.<u+2019>s brexit vote in late june. mr. forese<u+2019>s statements hewed to the trends noted tuesday by bank of america corp. chief operating officer tom montag. mr. montag said the surprising election had fueled bank of america last week to its biggest trading day ever by volume on stock exchanges in new york and japan. write to christina rexrode at christina.rexrode@wsj.com
citigroup says trading levels higher than a year ago  - wsj
christina rexrode