The Globe and Mail reports in its Thursday edition that surging revenue from fixed-income trading powered a big bump in profit at Royal Bank of Canada's capital markets wing in its latest quarter. The Globe's Niall McGee writes that RBC earned $635-million from its capital markets division for the quarter that ended July 31, up 17 per cent year-over-year. A lower tax rate and foreign-exchange gains helped to boost the bottom line, as did a big increase in trading revenue. Trading revenue rose more than 20 per cent to $978-million from $812-million. Fixed-income revenue hit its highest level in more than five years, partly because of the impact of Brexit. In a conference call with analysts, chief executive officer David McKay said the injection of liquidity by central banks in the weeks after Britain's shock vote to leave the European Union fuelled a rally in fixed income. During the same call, Doug McGregor, group head of capital markets, said RBC's performance in trading is "repeatable" in future quarters. RBC's results echo those of Bank of Montreal, which reported on Tuesday. BMO's profit was up 18 per cent in its capital markets arm, driven, like RBC's, by outperformance in trading.