Goldman Sachs Projects Softer Quarter for Fixed Income -- WSJ

By Jasmine Li

Goldman Sachs Chief Executive David Solomon warned of a softer third quarter for the bank's fixed-income trading business, while its equities and asset-management businesses remained strong.

Goldman's fixed income, currencies and commodities business has been softer than its equities business, which "continues to be very strong," Solomon said at a financial-services conference hosted by Barclays.

In asset and wealth management, Solomon said Goldman was exceeding its growth target of high-single digit percentages. "We're now in a place where we've talked about our ability to drive 30% margins in that business and high-teens returns," he said.

Solomon also cautioned investors that noncompensation expenses in the third quarter would be more than $500 million higher than in the second quarter, due to higher transaction activity and tech investments. The bank, whose shares fell 4% Wednesday, is due to report third-quarter earnings on Oct. 13.

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September 16, 2026 16:25 ET (20:25 GMT)