{
  "id": 7856918,
  "title": "Goldman CEO says fixed income, currencies, commodities business slightly softer in Q3",
  "url": "https://urgent.news/2026/09/16/goldman-ceo-says-fixed-income-currencies-commodities-business",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T19:43:00.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/goldman-ceo-says-fixed-income-currencies-commodities-business-slightly-softer-in-q3-4904385"
  },
  "original_language": "en",
  "account": "Goldman Sachs CEO David Solomon revealed that the firm's fixed-income, currencies and commodities (FICC) business will be slightly weaker in the third quarter compared to the exceptional performance of its equities division. Solomon stated during a Barclays' global financial services conference that equities remain robust, while FICC has been relatively softer. The FICC business has experienced fluctuations throughout the year, with net revenue rising 32% in Q2 from a year ago, but declining by 10% in Q1 due to heightened volatility in the rates market following the Iran war. Goldman's shares experienced a 4% drop in afternoon trading, reflecting broader weakness in banking stocks. Bank of America CEO Brian Moynihan had earlier warned that investment banking fees in the industry could fall by around 10% in Q3, with his bank facing a more significant decrease than the industry as a whole. Global investment banking revenue for Q3 ended on September 15 fell to $21.194 billion, down from $23.765 billion in the same period last year, attributed to M&A slowdowns and increased debt issuance. Solomon cautioned investors to anticipate a more subdued third quarter for the firm's investment business following a record-breaking Q2 driven by transaction activity and market volatility stemming from the Iran conflict. He noted that transaction expenses are higher, and the company has accelerated technology investments, resulting in $500 million more in non-compensation expenses and an uptick in bad debt provisions due to a few specific factors.",
  "summary": null,
  "key_points": [
    "Goldman's FICC business expected to be slightly weaker in Q3",
    "Equities division remains robust while FICC is softer",
    "Global investment banking revenue down 14.7% to $21.194B"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}