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Reuters (December 30)

2020/ 12/ 31 by jd in Global News

““China’s gravy train will bypass Wall Street,” where the “easiest money from selling Chinese shares in New York is destined to fade.” Given renewed protectionism, global investment banks will also find it more challenging “to use their international networks to help companies find acquisition targets abroad…. It will be a harder slog for less money as the China gravy train makes fewer stops on Wall Street.”

 

Financial Times (July 2)

2020/ 07/ 04 by jd in Global News

“Some of the biggest investment banks and fund managers have advised their clients to take profit from the dizzying rally on Wall Street that followed the mid-March crash. Instead, they say, look to Europe.”

 

Bloomberg (August 28)

2019/ 08/ 29 by jd in Global News

“India’s economic numbers have for some time looked better than the facts warranted, feeding an overconfidence in New Delhi about the country’s prospects. Thankfully, that’s begun to change. The Reserve Bank of India, the International Monetary Fund, investment banks and ratings agencies have all recently cut their estimates of 2019 growth sharply.” This is “best news in years… India’s government finally seems to recognize the scale of the problems it faces.”

 

Barron’s (January 29)

2018/ 01/ 31 by jd in Global News

“Interest rates and volatility have been so low for so long that what was once abnormal is starting to look normal,” leading investment banks to adopt different approaches. Goldman has maintained its trading unit, “which lives or dies on volatility and which sealed Goldman’s reputation as the elite firm on Wall Street,” even though its revenue “has been reduced to crumbs.” In contrast, Morgan Stanley slashed the head count at its trading unit and has seen its market value surpass Goldman’s. But this could prove short-lived. “When trading conditions improve,” revenue from fixed income currency and commodities (FICC) “could bounce back quickly. No one else is as poised as Goldman to profit.”

 

The Economist (May 11, 2013)

2013/ 05/ 12 by jd in Global News

Following the darkest days of the financial crisis, more than a few European bankers and leaders were caught gloating. It looked like the big Wall Street investment banks had been beaten. “Almost five years on it is Europe’s banks that are on their knees and Wall Street that is resurgent.” But this comeback may be a nightmare in disguise. “Indeed, it is American taxpayers and investors who should worry about the dominance of a few Wall Street firms. They bear the main risk of future bail-outs.”

 

Euromoney (March Issue)

2013/ 04/ 02 by jd in Global News

”The currency war that many feared as an inevitable accompaniment to the credit crisis played out as more of a paint-ball contest until the recent sharp slide of the yen. The violence of the yen fall of roughly 20% reawakened fears of a wave of competitive devaluations.” While many fear the negative repercussions, for investment banks and hedge funds, the revival of FX uncertainty holds out the hope of a recovery in their moribund currency-trading revenues.”

 

Financial Times (December 28)

2010/ 12/ 29 by jd in Global News

Investment banks must shrink, “both in terms of leverage and the risks they take, if they are to regain their legitimacy.” Investment bankers are ready to forget the last crisis and push on with maximizing profits. Taxpayers and regulators, on the other hand, do not want to take chances. The banks must not only reduce their leverage and risk, they must demonstrate that “they do a useful job” which benefits society.

Investment banks must shrink, “both in terms of leverage and the risks they take, if they are to regain their legitimacy.” Investment bankers are ready to forget the last crisis and push on with maximizing profits. Taxpayers and regulators, on the other hand, do not want to take chances. The banks must not only reduce their leverage and risk, they must demonstrate that “they do a useful job” which benefits society.

 

[archive]