On the flip side, revenue from the Citigroup’s treasury and trade solutions were up $2.34 billion in the second quarter–an 11% increase from the previous year–a remarkable figure given that tariff wars between the United States China made for a challenging trading environment.
Fixed-Income ETFs Post Gains
In contrast to Citigroup’s fixed-income revenue numbers, a pair of fixed-income ETFs were able to shrug off the news of the bank’s decline in revenue as iShares iBoxx $ Invmt Grade Corp Bd ETF (NYSEArca: LQD) and iShares iBoxx $ High Yield Corp Bd ETF (NYSEArca: HYG) were up on the day–both LQD and HYG up 0.11% as of 12:30 p.m. Eastern Time.
Related: Dow Up Slightly as Markets Digest Banks Earnings
LQD tracks the Markit iBoxx USD Liquid Investment Grade Index composed of primarily investment-grade corporate bonds and is up 3% the last three years according to Yahoo! Finance performance figures. HYG tracks the Markit iBoxx® USD Liquid High Yield Index that utilizes a rules-based index of liquid, U.S. dollar-denominated, high yield corporate bonds and it’s up 3.95% the past three years.
For more trends in fixed income, visit the Fixed Income Channel.