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Even Goldman Could Not Escape FICC Weaknesses

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Well I guess Goldman Sachs Group Inc (NYSE:GS) is human after all. The company was not able to escape the weak fixed-income trading environment going around Wall Street. FICC (fixed income, currency and commodities) trading was down 44 percent, which is equivalent to $1.25 billion. Volume in trading was also significantly lower. Goldman cited the uncertainty of tapering talks in September as a major reason for this slowdown. Despite the weakness in FICC trading, earnings still beat estimates for the quarter by 45 cents.