The Taylor Star-STEM,Business and Political Science: September 2017

At a Barclays' investor conference,Citigroup's Chief Financial Officer,John Gerspach,said that Citi's Q3 revenue would probably fall by 15% on the year.Barclays' own analyst,Jason Goldberg,had forecast a 12% drop in Citi revenue,so Mr.Gerspach wasn't saying anything the Street didn't already know.The decline is related to lower market volatility,meaning people are trading less often,being more confident in their positions as US presidential election and Brexit fears have abated.*
Mr.Gerspach also expressed optimism about Citi's investment banking business.As well,he is pleased that regulatory reform is on the table in Washington,although the talks are going more slowly than he would like,with several finance-related government posts being vacant.*
Citigroup shares were up 1.54 on the day as of press time,or 2.33%,to 67.71,with the yield at 1.89%.*
Citigroup,Inc (C)