JEFFERIES HIT TRADING LOW – Trading at Jefferies has taken somewhat of a hit, despite an all time high in investment banking revenues. The fixed income trading division saw its revenues slump from last years $149.4mn, to $94.7mn. Within Jefferies equities unit trading was actually up 10%, generating $194.4mn, compared with $175.9mn of last years figures. Overall, trading revenues for the whole trading arm are down as much as 12%. The bank generated $289mn, compared with $325mn the same time last year. CEO of Jefferies, @Rich Handler, has said, “Equities was solid and fixed income started off strong but then was very slow after the first quarter.” He added, “This is a function of reduced volatility, tight bid-ask spreads, and low volumes. We also made a concerted effort two years ago to resize our fixed income balance sheet. The emphasis has been on building the bank and using the trading divisions to support that growth.” #SpartanInternational