Goldman CEO Solomon Flags Softer FICC and Higher Q3 Costs

MacroEarnings
โดย Zacks Investment Research·US·Read original
Summary · why it matters

Goldman Sachs CEO David Solomon said at the Barclays 24th Annual Global Financial Services Conference on Sept. 16 that fixed income, currencies and commodities activity has been relatively softer in the third quarter of 2026, while equity trading has been very strong. The moderation follows a strong first half, when Goldman generated $6.24 billion in investment banking fees, up 52% year over year, and FICC revenues of $8.60 billion, up 9%, as Global Banking & Markets revenues climbed 35% year over year to $28.26 billion. Solomon also indicated that expenses are running higher amid elevated transaction volumes and accelerated technology investments, with non-compensation expenses expected to increase by more than $500 million sequentially in the third quarter. Citigroup management expects third-quarter markets revenues to grow in the mid-single digits year over year and investment banking revenues to rise in the low-single digits, while KeyCorp raised its 2026 revenue growth outlook to 8% from a prior target of 7-8%, citing non-interest income growth of 4-5% and net interest income growth of 9-11%.

Impact on stocks 3

Financials± Mixed · 2 stocks
Goldman Sachs Group Inc
GS
▼ NegativeCapitalrelevance

Goldman CEO Solomon flagged softer Q3 FICC activity and non-compensation expenses rising more than $500 million sequentially.

KeyCorp
KEY
▲ PositiveCapitalrelevance

KeyCorp raised its 2026 revenue growth outlook to 8% from 7-8%, citing stronger non-interest and net interest income growth.

Digital Finance & Tokenization▲ · 1 stocks
Citigroup Inc.
C
▲ PositiveCapitalrelevance

Citigroup management expects Q3 markets revenues to grow mid-single digits and investment banking revenues to rise low-single digits.

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