Inter-dealer broker ICAP said it has seen an increase in risk appetite in some markets this year, but has left full year guidance unchanged from that given at the time of its last update at the beginning of February.
The firm's voice business has seen a pickup in interest rate markets, but credit markets remain challenging, although there has been an increase in issuance.
In commodities, oil and gas performed strongly in the year to end of March.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Performance on EBS, ICAP's electronic foreign exchange platform, was affected by quieter market conditions and central bank policies in two of its main currencies, the Yen and Swiss Franc.
The flat yield curve for US Treasuries reduced trading opportunities for ICAP's customers on BrokerTec, the firm's fixed income electronic platform.
"Performance in all of our post trade risk and information businesses was strong," the company said.
"In the last three months we have seen an improvement in risk appetite in some markets. We expect to see a slow move towards more normalised markets as the year progresses," said Michael Spencer, Group Chief Executive Officer of ICAP.
jh
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
