Today is the day when BofA Merrill and Goldman announce their 3Q results. We’ll deal with Goldman imminently, but for the moment it’s worth noting that what remains of Merrill Lynch seems to have had a very good quarter in sales and trading – despite dire predictions about falling volumes.

Sales and trading revenues at BAML rose by a gargantuan 42% q-o-q in the third quarter. This compared to a fall of 12% at JPMorgan and an increase of only 3% at Citigroup.

BAML said every single day in the quarter had positive trading-related revenue. It attributed a rise in FICC revenues to, ‘spread tightening, increased customer activity and eased concerns from the European sovereign debt crisis.’ And it attributed rising equities revenues to a ‘rebound from adverse market conditions in the prior quarter.’ The fact that the bank has been doing a lot of hiring in sales and trading may also have something to do with it.

Less promisingly, sales and trading revenues were down 15% y-o-y. And net income in BAML’s global banking and markets division was down 35% y-o-y – more than at JPMorgan or Citigroup.

Citigroup is hiring commodities traders in Asia and Europe. (Bloomberg)

Dick Bove thinks Citigroup’s shares will double in a couple of years. (Dealbreaker)

UBS is rebuilding its operations in Brazil. (Financial News)

Alan Johnson said that banks should pay 3.5bn on top of the government’s forthcoming 2.4bn banks levy. (Guardian)

Swiss village cuts taxes to attract hedge funds from London. (Guardian)

Moscow M&A bankers are still waiting for the Kremlin’s privatisation plans to come to fruition. (Financial News)

Pay for partners at Lansdowne soars, but pay for partners at Moore Capital plummets. (Fin Alternatives)

Five alternative careers for prop traders. (BusinessWeek)

Pierre Henri Flamand has raised $1bn for his new hedge fund. (FinAlternatives)

Jupiter’s AUM are up 12% and its stock is up 48% since June. (Bloomberg)

Net income is improving thanks to better credit quality, and revenue is weak because the economy is in the tank. (BusinessInsider)

Your smartphone will ruin your life. (CNN)

The task of depression is margin compression. (DeclineandFallofWesternCivilisation)

Divorcing banker left JPMorgan to work at Oxford College for 30k a year. (Bloomberg)