US banks will get a trading and dealmaking boost from Trump’s re-election, but rising Treasury yields could pose challenges.

Former credit trader Shikha Gupta discovers that a verbal contract isn’t worth the paper it is written on.

It is turning out to be an equities year for the big investment banks, as fixed income revenues fall or stall and fees from dealmaking recover slowly.

Guidelines published by China’s cabinet pledged to boost the quality of its capital markets. But they neither understand nor trust the vibrant-yet-turbulent nature of that financial system.

A report from Citi asks if Mexican banks must increase interest rates on their deposit base.

New highways, bridges and tunnels make travelling in Mumbai easier than it has been in decades. A new metro line is set to open in late 2024, but the city can still be gruelling to navigate. If it wants to be a global financial hub, there is still so much more to do.

Revolut is strongly profitable while growing fast, diversifying revenues and finally being admitted to the banking club. Watch out.

The role of Mediobanca adds to the similarities between BBVA’s hostile bid for Banco Sabadell and Intesa Sanpaolo’s takeover of UBI Banca in 2020. But there are stark differences of institutional character, politics and timing.

UK pension schemes have made clear their opposition to reduced investors protections, while the FCA may come to regret pushing through its new listing regime.

S&P’s regional bank index has just pushed past its March 10, 2023, level, reflecting where these stocks were immediately before the collapse of SVB last year. Those stocks are rising sharply and investors are seeing huge profits, so is this a sign that regional banks have finally emerged from their crisis?

President Xi Jinping’s ‘great rebalancing’ is creating a two-speed China: one a stodgy economy; the other full of export-focused corporate superstars. To serve the latter, China’s banks must invest overseas by buying assets or opening branches – and they need to do so fast.

Tyler Dickson’s departure from Citi must rank as one of the most predictable moves in investment banking this year, even if where he has ended up is perhaps less obvious. Elsewhere, Citadel Securities is apparently set to make an offer that some of the Street might find difficult to refuse.

Donald Trump is now likely to win the US presidential election after a disastrous debate performance by incumbent Joe Biden. Trump 2.0 may bring complications as well as benefits for Wall Street.

Derivatives structurers are thriving, but regulators aren’t convinced the biggest Wall Street banks have a firm grasp of their complex exposure.

Risk aversion has spread quickly since the call for a snap election in France, from French government bonds, through bank stocks and CDS spreads to now derail the IPO of an Italian maker of luxury trainers.

Mexican banks have sold off hard since Claudia Sheinbaum – as widely expected – was confirmed as the country’s next president.

For the US to come out in support of voluntary carbon markets even while arguing for their reform is an important step in the drive to seek better standards for what are vital – albeit flawed – mechanisms. But more guidelines on how to certify and trade offsets are no substitute for the real thing.

Rising confidence in European banks has raised hopes of a surge in domestic M&A, perhaps laying the foundations for the long-sought ideal of genuinely pan-European firms.

President Macron’s newfound zeal for cross-border financial M&A is creating a headache for France’s big banks.

Anything except a brief stay on as chairman would cast a baleful shadow over the chief executive’s successor at JPMorgan.

Rumours that Chinese insurer Ping An could cut its stake in HSBC further, perhaps selling to a Middle East buyer at a time when Gulf investment is flooding into the People’s Republic, should not come as a surprise.

Some companies overhype their eco-credentials, while others hide theirs. Banks are navigating this complex landscape to capitalize on surging demand for sustainable investment.

Although the relative health of some nationalized banks may facilitate their privatization, major obstacles to any sales remain.

Thailand is enduring a record heatwave, yet its economy is in the deep freeze. Prime minister Srettha Thavisin is frantically jetting around the world trying to woo global corporates and investors, so far to little avail.

UK banks, asset managers and individuals see better returns from dumping UK stocks and investing elsewhere, but the impact eventually becomes ruinous.

As banks focus more on climate adaptation across their businesses, are they conceding that mitigation efforts are futile?

The two European banks are both trying to de-emphasise their investment banks and want to build up areas where they see weakness. Barclays is later to this party than Deutsche, but both will have found encouragement in the first three months of 2024.

Junior bankers should relax about the threat to their jobs from AI and lean into opportunities to bluff their way to Wall Street glory.

A move back up in rates is creating a PR battle among Wall Street banks. JPMorgan was punished for a cautious outlook, Goldman Sachs promoted strong fixed income trading results and Bank of America projected a Zen approach to rate moves.

China’s Project Whitelist, launched at the start of the year, exists to ensure bank funding for property development. But it is there to protect projects, not the developers behind them.