Silver as an investment

Category Archives: investment banking

Banks Demand 11th-hour Reprieve On Key Part Of MiFID II

The clock is ticking down and there are only about three weeks to go before the dreaded MiFID II regulatory structure is implemented on 3 January 2018. While it’s been difficult to judge the industry’s preparedness for the change, several aspects of the new regulations have attracted the most debate and concern. These have included […]

Bill Blain: “Why We Should Be Very Nervous About Corporate Bonds”

Blain’s Morning Porridge, Submitted by Bill Blain of Mint Partners Why we should be very nervous about corporate bonds     “Before the fiddlers have fled, before they ask us to pay for the bill and while we still have the chance.…” This might be week the proverbial chickens have more need than ever of somewhere […]

Deutsche Bank Trading Revenue Plunges 30% As CEO’s Time Running Out

Deutsche Bank’s Q3 2017 revenues were €6.78 billion, below market expectations of €6.88 billion. The share price fell 2.7% shortly after the European market open. The problem – like the previous quarter – was a bigger-than-expected drop in trading revenues. Trading revenue was down 30% year-on-year to €1.512 billion versus €2.162 billion in Q2 2017. […]

Goldman Ramping Up Private Equity Investments To Offset Low Vol And Low Volume

A Reuters article reports that Goldman is looking to make direct private-equity investments to compensate for weakness in trading. Goldman Sachs Group Inc is ramping up its private-equity investments and going after smaller, high-growth targets as part of a broad plan to offset recent trading declines, three people familiar with the effort told Reuters. Goldman’s […]

Lira Tanks As Germany Pressures Banks To Cut Turkey Funding

Following yesterday's US decision to decline a visa for a Justice ministry delegation, it was Germany's turn today to put the screws to Turkey. As Bloomberg reports, Germany is actively working to cut funding to Turkey from the country’s state-owned KfW bank, the European Investment Bank and the European Bank for Reconstruction and Development, people familiar with the matter […]

How Much Is Equity Research Actually Worth? Probably Less Than You Thought

Over the past several months, investment banks all across Europe have scrambled to put a price tag on their equity research after years of giving it way as a ‘freebie’ in return for trading commissions. Of course, for wall street’s titans of finance, you know, the same guys who will look you straight in the […]

Sticker Shock: Small Hedge Funds Seen Ditching I-Banking Research Under MiFID

For the past several months we’ve discussed many theories about how the new MiFID II rules in Europe might drastically change the investment banking research business model.  For those who haven’t followed this narrative, MiFID II is a new set of regulations in Europe that requires investment banks to charge separately for research as opposed […]

Goldman Issues First Warning On Q3 Results

Remember what Goldman said when it reported atrocious earnings two weeks ago, when it revealed that FICC revenues plunged by 40%? Here is a reminder: “During the quarter, Fixed Income, Currency and Commodities Client Execution operated in a challenging environment characterized by low levels of volatility, low client activity and generally difficult market-making conditions… During […]

Morgan Stanley Triumphs Again: Posts Higher FICC Revenue Than Goldman Sachs

After yesterday’s stunning 40% plunge in Goldman’s FICC revenue, market watchers and MS shareholders were nervously anticipating the release of today’s Morgan Stanley Q2 earnings data. In retrospect, they had no reason to be worried, because moments ago MS reported revenue and EPS which both beat expectations, with Q2 EPS of $0.87 (est $0.76) on […]

Nomura Demands $134,000 For Premium Research

Just this morning we reported that as the global equity research market wrestles with how it will comply with the EU’s MiFID II regulations, in a new study McKinsey said that banks will have no choice but to fire a ton of equity research analysts who write a bunch of stuff that no one ever […]