Category Archives: Primary Dealers
Bill Blain: “There Is One Obvious Trigger That Could Lead To A Market Fall In The Second Half”
By Bill Blain of Mint Partners Politics – More Destabilizing Than You Think! “With comedy we can search for the profound…” Dark skies, torrential rain and thinking about putting the log-burner on.. Welcome to high-summer in England. Markets are thin and the crowds trying to clamber on the train were noticeably lighter this morning. (Actually, […]
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 […]
Warren Buffett Becomes Bank Of America’s Top Shareholder, Books $12 Billion Profit
As we previewed exactly 24 hours ago, Buffett’s Berkshire Hathaway said it will exercise warrants to swap its preferred Bank of America shares for 700 million shares of BAC common stock, making Buffett the largest shareholder, surpassing BlackRock, Vanguard and State Street . Buffett is also the top shareholder at Wells Fargo. Buffett exercised his […]
McKinsey: Banks Will Have To Slash 30% Of Analyst Jobs To Comply With New Research Rules
As the global equity research market continues to wrestle with how they will comply with the European Union’s MiFID II regulations, McKinsey & Co. has just penned a new study effectively saying they’ll have no choice but to fire a ton of equity research analysts who write a bunch of stuff that no one ever […]
Morgan Stanley Builds Mortgage App To Try And Stay Relevant As Fintech Booms
It’s no secret that Wall Street lives in constant fear of Silicon Valley. Bank CEOs probably wake up in a cold sweat after imagining that their clients have handed their money to some new startup that’s found a way to disrupt a financial service like, say, wealth management. To try and fend off the robo-advisers […]
Deutsche Refuses To Disclose Trump’s Private Account Info – Barrage Of MSM Conspiracy Theories Imminent
A few days ago we noted that DB allegedly requested more time to comply with a letter drafted by the infamous Maxine Waters of the House Financial Services Committee demanding information from on a Russian money laundering scheme and loans made to Trump’s businesses while he was a private citizen. Without providing any evidence or […]
Venezuela’s “Mysterious” Bond Deal Reappears, And This Time China Wants Out
As its foreign reserves dwindle to less than $10 billion, the government of Venezuela – desperate for any kind of financial lifeline – has partnered with a Chinese brokerage to try and resell $5 billion in bonds that it initially issued at a deep discount, according to the Wall Street Journal. The brokerage, Haitong Securities […]
Deutsche Bank Tumbles Most In 5 Weeks After Earnings Disappoint Across The Board
On the surface, Deutsche Bank’s results this morning came in better than expected with first quarter earnings more than doubling as Germany’s biggest bank benefited from a pick-up in market activity at the start of the year. In the three months to March, Deutsche managed to make a net profit of €575m, more than double […]
“Think 1999”: Morgan Stanley Sees Huge 30% Surge In Stocks “Investors Cannot Afford To Miss”
With Morgan Stanley’s Adam Parker having left the investment bank to continue his career at Eminence Capital, it was up to his replacement, Michael Wilson to come up with the Initiation of coverage report for the “Classic Late Cycle.” So, in keeping a stiff upper lip, and breaking away from the gloom that appears to […]
Deutsche Bank Plunges Into Red For 2017 After Dilution, Revenue Warning
After raising capital at a 35% discount over the weekend, Deutsche Bank shares are tumbling once again – back into the red for 2017 – after CEO John Cryan warned that revenue would be "broadly flat" in 2017. As Bloomberg reports, Germany’s biggest bank has seen revenue falling or little changed from last year across […]