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Wall Street's Embattled Bond Traders Due for Revenue Rebound

Bond trading, that juggernaut of Wall Street revenue and bonuses, is back. Sort of.

The largest U.S. banks, led by JPMorgan Chase (JPM) on Friday, probably will report a 23% jump in third-quarter revenue from trading bonds, currencies and commodities, Goldman Sachs analysts predict. Such an increase would dwarf growth in lending income and securities-underwriting fees, while stock-trading revenue probably fell by 5% from a year earlier.

Fixed-income-trading volumes have...