World's best bank for markets 2019: Morgan Stanley

Sales and trading bankers will be forgiven for hoping for a smoother time in the remainder of 2019 than they experienced in the previous 12 months. 

For navigating a tricky period in both equities and fixed income, and doing so with a strong financial performance, Morgan Stanley is again our choice as the world’s best bank for markets.

Last year was bookended by two bouts of extreme volatility in almost all markets. The first quarter of 2018 had bankers drawing comparisons with the volatility seen in periods like August 2015, with a similar dynamic around expectations of Federal Reserve activity, as well as concerns about China, though back then it was worries over a softening of its economy rather than the trade war nervousness of the last year.

The second quarter saw something of a revival, with activity brisk and clients showing plenty of conviction. Capital markets were buoyed up by the tech and healthcare sectors.

That confidence spread into the third quarter and its summer lull, but it was soon scuppered in a fourth quarter that most firms would like to forget.