SocGen’s Fixed-Income Slump Deepens in Uneven First Quarter

Societe Generale SA’s slump in fixed-income trading deepened in the first quarter as the French lender joined European peers in struggling with the volatility caused by the war in Iran.

Revenue from buying and selling fixed-income securities slumped 18% from a year earlier, worse than analysts had expected and trailing most peers. That overshadowed a 5.5% gain in equities and rising revenue in the French retail business. The shares fell as much as 5%.