After a rough start to 2016, things may finally be looking up for Wall Street’s investment banks.
Jefferies Group, the investment bank owned by Leucadia National, reported fiscal second-quarter earnings Tuesday — and it appears one of the biggest factors to trip up big banks in first-quarter earnings may be off the table when Wall Street firms report their results next month.
The fixed income division at Jefferies posted revenue gains of more than 55 percent, year over year, and far outpaced its previous quarter’s tally, which — in line with the rest of Wall Street — proved disappointing.
