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Bond trading revenue was up nearly 50% in the fourth-quarter from last year's period, while risk-weighted assets have shrunk significantly. The trading volume surge is being attributed to investor's reworking portfolios in response to Trump's victory and the Federal Reserve's interest rate hike.
"Everyone said that banks wouldn't make money after the crisis, but that's clearly not true," said Dave Ellison, a portfolio manager at Hennessy Funds, which holds Morgan Stanley shares. "They're now adapting to a new environment and learning they don't need to take on the type of risk they did in the past."
http://www.reuters.com/article/us-usa-banks-trading-idUSKBN1530JA
