Goldman Traders Rescue Results From Investment-Banking Slump

Goldman Sachs Group Inc.’s traders countered the industry’s underwriting slump with revenue gains that raced past analysts’ estimates.

The trading operation posted a 32% surge in second-quarter revenue that included another banner period for fixed income, which jumped 55%, the New York-based firm said Monday in a statement.

The gains helped ward off the steep slowdown in investment banking as the volatility that spurred gains for trading weighed on capital markets and asset management. The global markets business, which houses Goldman’s traders, recorded $6.47 billion of revenue in the quarter with rates, commodities and currencies helping drive the fixed-income gains.