JPMorgan Chase & Co. generated $3.96 billion in fixed-income trading revenue in the second quarter, accounting for almost one of every three dollars generated by the five biggest U.S. banks for the period. Morgan Stanley, No. 1 in equity trading, posted $2.15 billion in revenue from that business Wednesday, beating analysts’ estimates and opening its largest lead since wresting the title from Goldman Sachs Group Inc. a year ago.
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