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Goldman Beats, Market Happy With Advisory Blowout Despite FICC Fail
Ok, so it's now clear that FICC trading was an across-the-board weak spot for Wall Street in Q4. Fol
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Have you remarked that FICC is down each quarter, not only Q4? I believe what they say is true, “wider credit spreads” is an issue, it’s not only volatility. FICC was down even in Q3, quiet quarter. Market makers have trouble in this poor liquidity environment.
I cover the big bank results every quarter. they’re all in the archive.
I feel like the overall earning season results end up being opposite of the big bank results…big banks good good everyone else does bad or the opposite…at least that’s my hope…I’m 100% cash so hoping for a downturn
The global economic slowdown story, and with that, lower earnings expectations is finally reaching the markets, it seems. And why not? Lower earnings means less revenue, higher borrowing risk, and higher P/E.
QE and lower interest rates aren’t going to fix any of that if this better-to-burn-out-than-fade-away economy in the US can’t find its way towards earnings growth in a sustainable way.
Or maybe not. There’s always war I suppose, but the world risks nuclear holocaust for it now. Plan B can’t be worse than that, can it?