DrKW Trading down

Almost every investment bank had a rough second quarter. But Dresdner Kleinwort Wasserstein really suffered. Trading income was down 73% year on year. Deutsche Bank and CSFB were actually able to grow revenues from this source, while trading revenues at UBS fell nowhere near as rapidly. The woeful trading performance dented the overall result too. And this was despite DrKW claiming a strong performance in M&A, and a substantial improvement in trading income towards the end of June. In sum, firs...