Reported about 4 hours ago
Wall Street banks are set to achieve their highest revenue in five years from trading Israeli bonds and currency, fueled by volatility from an ongoing 14-month conflict in the Middle East. In 2024, banks are expected to generate $475 million from fixed-income and currency trading linked to Israel, a 10% increase from the previous year. Among the top earners, JPMorgan is projected to make $70 million from these trades. Increased inflation and borrowing costs in Israel coupled with political instability have contributed to the significant market fluctuations, creating opportunities for traders amid otherwise subdued global trading activity.
Source: YAHOO