The biggest banks on Wall Street raised brows last quarter when they each pitched perfect games; Goldman Sachs, JPMorgan, Citigroup and Bank of America each made money on every trading day in the first quarter. But we all knew the second quarter would be a different story, as the trading environment got a lot tougher. So how bad was it?

The Huffington Post notes that Bank of America (NYSE: BAC) recorded losses on 12 of 63 trading days in the second quarter; the worst day concluded with a $102 million loss. JPMorgan Chase (NYSE: JPM) lost money trading on eight of 65 days.

This is hardly a disaster. The real story is that on those winning days, there was less money made on average. With prop trading winding down, it will be interesting to see how these numbers change over time. We may see more prop traders in market making units. Of course, rising markets mask a lot of issues, lifting all boats.

For more:
- here's the article

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