There was a notable decline in debt trading activity over the second quarter of the year, as Greece’s precipitous credit condition and weak economic indicators in China and some Eurozone nations made investors wary of the bond market. This resulted in a sharp reduction in FICC (fixed income, currencies & commodities) trading revenues for investment banks compared to Q1 2015 as well as Q2 2014. While the seasonal securities trading industry usually witnesses peak activity levels over the first quarter of the year, the exceptionally strong showing in Q1 exaggerated the quarter-on-quarter decline.