Just caught Citi's Q1 earnings and the fixed income numbers are actually pretty solid. Their FICC division pulled in $5.17 billion, beating the $5.02 billion consensus estimate. That's the fixed income, currency and commodities business we're talking about.

What caught my eye more was the equity side though. Stock sales and trading hit $2.08 billion versus expectations of $1.73 billion, so they crushed that too. Pretty impressive beat on both fronts.

The fixed income revenue strength is interesting considering the rate environment we've been in. Usually when you see fixed income trading revenues outperform like this, it signals pretty active client flow in that space. Makes sense given how volatile bond markets have been lately.