From the Wall Street Journal (ungated). In brief:

  • Citigroup’s combined revenue from its equity trading and fixed income, currencies and commodities trading arms of $3.66 billion
  • Comfortably beat analyst estimates for revenue and profit
  • Citigroup’s markets revenue, down 15% year-over-year, was substantially better than most were expecting
  • 12% decline in revenue from its fixed income markets division to $3 billion
  • Credit products were up 30% during the quarter
  • Rates and FX were down about 30% (drop was at least partly caused by a strong year-ago quarter for these products)
  • “Fixed income trading revenues drove the upside and likely reflect an improved credit related trading environment in June that should benefit peers as well,” wrote Sandler O’Neill analyst Jeff Harte in a research note

Nicely done, Citi.

More detail at the link.