Citi, Bank of America post higher profits as traders cash in on tariff turmoil

Two of the biggest US banks, Citigroup and Bank of America, notched better-than-expected profits in the first three months of this year as traders raked in higher revenues amid President Donald Trump’s threat to start a global trade war.The banks reaped the benefits of investors adjusting their portfolios after being spooked about a possible return to protectionist trade policies, following a similar trend at fellow Wall Street giants JPMorgan and Goldman Sachs.President Trump had unveiled a string of ‘reci ...