Herman Chan

Heading into the quarter, the increased volatility that we saw in March was expected to lift results for trading, especially in FIC across the group.

So you can point to the fact that J.P.

Morgan and Citi were expecting trading revenue to be up 15 percent this quarter year over year.

And then Goldman comes out and misses.

So that's the reason why I think a lot of folks got caught off guard.

We're still seeing a lot of GDP growth still chugging along.

But there is going to be the question, are the higher energy prices going to create some cracks in the consumer side?

We're still seeing a lot of GDP growth still chugging along.

But there is going to be the question, are the higher energy prices going to create some cracks in the consumer side?

We're still seeing a lot of GDP growth still chugging along.

But there is going to be the question, are the higher energy prices going to create some cracks in the consumer side?

We're still seeing a lot of GDP growth still chugging along, but there is going to be the question, are the higher energy prices going to create some cracks in the consumer side?

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We're still seeing a lot of GDP growth still chugging along.

But there is going to be the question, are the higher energy prices going to create some cracks in the consumer side?