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Portfolio > Economy & Markets > Fixed Income

A really weird trend of the week

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In what can only be described as a sign of the times, Goldman Sachs suffered its first decline in year-over-year earnings in 11 quarters and Lehman posted net income that was down 57 percent from a year earlier. Despite this, according to the Wall Street Journal, the news sent financial markets sharply higher. Why, you might ask? Because it wasn’t as bad as analysts predicted. Yes, a 57 percent decline in net income isn’t as bad as analysts thought. We’ll take the good news where we can get it, but this has even us feeling a bit queasy.