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Can Macquarie keep the chaos going?
An increasing share of Macquarie Groupâs earnings has come from profiting from volatility and dislocation across global markets. But analysts are wondering whether the wild ride will continue?
May 17, 2021 â 12.01am
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When Macquarie Group delivered its annual results on May 7, one thing that sullied the outlook for the company was that its record-setting $3 billion annual profit was underwritten by a stellar result in its commodities and global markets operations.
Macquarie made $800 million of net income from surfing on âdislocationâ, or volatility, in oil markets, precious metals trading, particularly in gold, and in energy markets. It was helped by a historic winter storm in the US that pummelled the state of Texas but delivered a tailwind worth up to $300 million for Macquarie Groupâs energy trading business.
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