Deutsche Bank sees big drop in Q3 bond revenue

Deutsche Bank AG , Germany's largest lender by market value, expects a substantial drop in revenue in its business of trading bonds in the third quarter that ends Sept. 30, Co-Chief Executive Anshu Jain told investors

"We currently anticipate debt sales and trading revenues in the third quarter to decline significantly from last year," Mr. Jain told a Bank of America Merrill Lynch investor conference in London
The decline stems in part from difficult trading conditions in certain products because of market concerns that the U.S. would begin to withdraw its support for the economy, Mr. Jain said
He noted that the same quarter a year ago had been very strong and that Deutsche Bank will also take additional reserves for legal risks

In equity sales and trading, revenues continued to perform well

Other divisions performed in line with expectations, Mr. Jain said

He wasn't more specific ahead of the bank's third-quarter earnings report due Oct. 29