Bear sees fixed-income profits drop 88%

Bear Stearns confirmed it was the US securities dealer with proportionally the most damaging exposure to the troubled US mortgage market when it unveiled overall third-quarter net profits of $171.3 million, a year-on-year drop of 61%.

Its fixed-income net revenues were $118 million in the quarter ended August 31, 88% lower than for the same period in 2006. “A general repricing of risk in the market led to significant reductions in both mortgage- and credit-related revenues as volumes decreased wh

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: