Goldman Sachs followed its Wall Street peers with a double-digit drop in fixed income sales and trading revenues in the three months to September 30 — though the bank stayed closer to rivals than in previous quarters and was able to report a profit rise.

The US bank today reported a 17% year-on-year decline in revenues from its institutional client services division, which includes its trading operations. Revenues of $1.45bn in the prized fixed income, currencies and commodities business were down 26%.