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Fixed-income trading revenue almost tripled, driving a 73% jump in total trading that surged past expectations.

Investors may be put off by the costs associated with these funds, which had an average expense ratio of more than triple their peers.

The two companies have deep ties and are now formalizing the bond.

The shift comes after the bank reported its first quarterly loss since 2008.

The 4,000-person regulator in March was one of the first federal agencies to tell employees to stay home due to the public health emergency.

The bank has been in turmoil relative to peers for years. The economic fallout from the coronavirus pandemic only made matters worse.

Earlier this year, FINRA arbitrators granted the former advisor’s expungement request, but still sided with the firm on its demands for repayment of two promissory notes.

It’s the second consecutive quarter that trading set a record, as the bank’s Wall Street unit is helping prop up the consumer-lending division.

“Overall there were not many positive data points to hang your hat on,” according to analysts. Advisor headcount, net interest income and assets were down.

The firm set aside a record $9.5 billion for credit losses, about $4 billion more than analysts had expected, as it braces for a wave of coronavirus-related defaults.