Wall Street’s Investment Bankers ‘Firing On All Cylinders’
After a deluge of big bank earnings delivered over what certainly felt like a compressed timeframe, one thing stuck out: IB was strong in Q3.
On Thursday, Morgan Stanley reported $2.85 billion in IB revenue, breezing past estimates for a $2.1 billion haul.
It was a record quarter for the firm's investment bankers (figure below). Advisory fees tripled from Q3 2020 -- and then some.
The bank's characteristically spartan press release said simply, "Institutional Securities net revenues of $7.5
What will Darth Vader(GS) report tomorrow?
The vampire squid will report all legs and tentacles are squeezing margins at better than expected levels.
Best article ever written in Rolling Stone.
H-Man, the investment world has turned to “managed money” which means shooting ducks in a barrel. Spit out an asset allocation of 60/40 or 80/20, slide in some mutual funds and ETF’s and collect the quarterly fee. All great for the bottom line with little to no risk.
By March/April, I expect YoY inflation reads to come in at 2% or lower. From a higher base than pre-pandemic, for sure, but over 2022-23, the cost of most goods and many services should moderate.