Jeffries Group , the investment banking unit of Leucadia National , reported net earnings of $ 87.18 billion in Q4 2016 , up from $ 19.96 m year on year . Investment was low last year because investors were driven off by uncertainty over US interest rates , the Chinese slowdown , and a sharp drop in oil prices . profits from equities and low - income products doubled to $ 325 m as inflation surrounding the US presidential election and the Brexit vote added to market volatility . Jeffries is traditionally the first bank to report profits , and is viewed as a bellwether for the economy .
Jeffries Group, the investment banking unit of Leucadia National, reported net earnings of $87.18m in Q4 2016, up from $19.96m year on year. Investment was low last year because investors were scared off by uncertainty over US interest rates, the Chinese slowdown, and a sharp drop in oil prices. Revenue from equities and fixed-income products doubled to $325m as trading surrounding the US presidential election and the Brexit vote added to market volatility. Jeffries is traditionally the first bank to report profits, and is viewed as a bellwether for the industry.