A Citi sign is seen at the Citigroup stall on the floor of the New York Stock Exchange
Markets revenue at Citigroup Inc (C.N) is expected to decline between 20 and 25 percent in the second quarter from a year earlier because of lackluster fixed-income trading, Chief Financial Officer John Gerspach said on Tuesday. Gerspach, speaking at an investor conference, blamed geopolitical events, uncertainty in the global economic environment and low price volatility for the anticipated revenue drop. His comments suggested trading revenue for big banks has not improved since early May when JPMorgan Chase & Co (JPM.N) said it expected a 20 percent decline in second-quarter markets revenue. Daniel Pinto, head of JPMorgan’s corporate and investment bank, left that earlier outlook in place when he spoke at the same conference earlier on Tuesday. More