Goldman Sachs traders deliver surprise surge in firm's best year ever

Goldman Sachs Group Inc. posted a surprise jump in its trading business, rounding out a stellar quarter for Wall Street’s biggest banks. 

The firm’s trading operation posted a 23% increase in revenue, defying analysts’ expectations that the business would struggle to keep up with last year’s pace and slide 9%. Results from fixed-income trading easily surpassed estimates.

“This quarter’s results demonstrated the diversity of contribution from across all four segments,” Chief Financial Officer Stephen Scherr said. “And it just shows the strength embedded within the business.”

The Covid-19 pandemic has given a massive boost to banks’ trading and dealmaking operations. As economies recover