Merrill Lynch reported second-quarter net earnings up 61% to $1.02 billion, as its fixed income business continued to boom, according to the Financial Times. The firm also said it was encouraged by improvement in the stock market.

Merrill reported $1.02 billion in net earnings, or $1.05 per diluted share, contrasted with $634 million, or 66 cents, in the same period one year ago.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.