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September pick-up offers Q3 hope for banks

A late improvement in volatility in rates and FX markets helps banks' FICC desks end the third quarter on a high, says JP Morgan

A late pick-up in volatility in September looks like it will help investment banks' trading desks to a strong end to the third quarter, mirroring an eleventh-hour surge that spared blushes in Q2.

JP Morgan analysts led by Kian Abouhossein said in a note published this week that volatility in rates and foreign exchange, in particular, had "continued to improve in September".

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