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Citigroup Profit Surges 17% on Trump-Fueled Trading Surge

April 14, 2017

Via: TheStreet

Citigroup (C) said Thursday that net income surged 17% during the first quarter, as market optimism over President Donald Trump’s tax-cutting and deregulatory proposals drove a frenzy of bond and stock trading.

Net income was $4.1 billion, or $1.35 a share, the New York-bank said in a statement. The result exceeded the $1.23 a share average forecast of analysts in a FactSet survey.

Investor optimism over Trump’s proposals to stimulate the economy has fueled Wall Street’s trading engines, bringing a windfall to banks like Citigroup and JPMorgan Chase (JPM) that function as hubs for global markets.

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