Barclays Investment Bank’s Post

Great takeaways from our Global Investment Summit on the prospects of US interest rate cuts in 2024.

Every year the financial press make "predictions" for the year ahead. This time last year the mood wasn't very positive when looking to the year ahead. Here`s some predictions from the start of last year for the S&P: Citi 3,900 Barclays 3,675 Morgan Stanley 3,900 It rallied over 24% in the end, finishing at 4769..... Have a plan. Stick to the plan. Avoid the "noise." Use evidence and facts not emotions (or the latest news) when making financial decisions. https://lnkd.in/eeeV9PXJ.

Now that earnings from all the big banks are out, my takeaway this morning in Barron's: The tables are starting to turn for Wall Street vs. Main Street. Wall Street businesses are starting to show signs of getting back in control; consumer businesses, not so much. Investment bankers look poised to start winning again after a muted period of stock market debuts and issuance. “We’re seeing that wallet start to rebound. We’re part of that rebound," Citi's CFO said of the firm's investment bank last week. Main Street results are meanwhile starting to more meaningfully reflect the double-edged sword of higher-for-longer rates — a strong income driver for a while — eating into profits as customers seek higher rates for deposits. JPMorgan numbers reflect this dynamic: the consumer and community bank's net income fell 15% from a year prior while IB fees are up 21% in the same time thanks to higher debt and equity underwriting fees. Lots of caveats to this in my piece :) Please keep sending me feedback and tips to rebecca.ungarino@barrons.com.

What's New to TheStreet... 🚨 Breaking News 🚨 Bank of America is currently investigating allegations that its bankers in Asia shared nonpublic information with investors ahead of a major stock sale worth hundreds of millions. Stay tuned for updates as this story unfolds. What are your thoughts on this investigation? Share your thoughts below!👇🏻✨ 👉🏻Follow New To The Street for more! #bankofamerica #investigation #asiabanking #stocksale #insidertrading #financialnews #businessnews #business #news #newtothestreet

What's New to TheStreet... 🚨 Breaking News 🚨 Bank of America is currently investigating allegations that its bankers in Asia shared nonpublic information with investors ahead of a major stock sale worth hundreds of millions. Stay tuned for updates as this story unfolds. What are your thoughts on this investigation? Share your thoughts below!👇🏻✨ 👉🏻Follow New To The Street for more! #bankofamerica #investigation #asiabanking #stocksale #insidertrading #financialnews #businessnews #business #news #newtothestreet

Another insightful interview from Dan regarding portfolio positioning, tune in below! 🎧 📺

This trend extends to the Credit market where non-bank players have been busy hiring from banks in recent times. Many candidates I speak to that are looking for a new challenge are keen to move away from banks to smaller, more tech-driven trading firms that are building out credit market-making businesses (note this doesn't mean hedge funds). "Why?" I hear you ask. Well, let's discuss... Bureaucracy/Politics: This is a big one and that naturally affects the larger players. If you are in a major institution, you may find that getting things done simply takes more time thanks to red-tape. But guess what? This often happens when you join any large institution and is not a challenge exclusive to working for a bank. Compensation: There is an assumption that you can earn more money if you work on the 'buy-side' (a phrase often used to refer to non-bank market makers). In my experience, this assumption is way off. Banks will often out-bid non-banks for talent; and are more likely to offer guaranteed bonuses. The reason this assumption exists is because hiring managers at banks often have to jump through more hoops before getting 'above market' offers signed off. Non-banks don't have this issues and can move more quickly to process big offers. Technology: Banks are definitely lagging here, and until recently, they could get away with it as they have the edge in terms of capital, balance sheet and client flow. Newer entrants to the market have found their edge in technology and as a result, are more attractive to top quantitative and engineering talent. This isn't to say that banks are not embracing technology, but the quality of their code is likely to be less clean, and Quant teams less integrated with trading. If you are considering a new challenge in your career after you receive your bonus, or are looking to hire and want a full run down on the major players in systematic credit across buy-side and sell-side, DM me. I'm always happy to talk and share my views based on conversations with other candidates & clients. #corporatebonds #systematictrading

It's earnings season for banks, and we're diving deep into the numbers 🧐 📈 J.P. Morgan's investment banking fees shot up by a whopping 52% from last year. But can you believe Citigroup managed to surpass that growth? --- Don’t miss out on the market updates! ✅ Subscribe to the Daily Peel - https://lnkd.in/gv8wR_tJ Join our Discord channel here - https://lnkd.in/ghW_22_x #TheDailyPeel #financenews #marketupdates

Today on the Q2 2024 Goldman Sachs results call (Monday 15 July) there were many questions about the higher stress capital buffer from the Federal Reserve Board stress tests. It is clear David Solomon does not quite agree with it. #investmentbanking #capitalbuffers