Macaskill on Markets
-
Wall Street’s Trump party could end in a hangover
US banks will get a trading and dealmaking boost from Trump’s re-election, but rising Treasury yields could pose challenges. -
Sideways: Timing is everything at Deutsche Bank
Former credit trader Shikha Gupta discovers that a verbal contract isn’t worth the paper it is written on. -
Macaskill on markets: In the year of equities, derivatives are key
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.
-
A US climate bill filled with green credits will create business for banks and provide relief from the backlash against ESG products.
-
West Virginia state treasurer Riley Moore has opened another front in a campaign by Republican officials in the US against banks that promote ESG policies.
-
HSBC Asset Management’s head of responsible investing has had it up to here with consultants and regulators lecturing him on climate change risk.
-
Goldman Sachs almost certainly made a good investment when it paid Hillary Clinton $675,000 for three speeches.
-
Unlike the contrarian investors who would welcome some creative disruption to market certainties, most bankers seem to fear the turmoil that could well follow an election victory for Donald Trump.
-
The case against two HSBC employees for front-running a foreign exchange order from a client could hasten the death of the principal model for FICC trading by banks. A shift to an advisory-based approach is possible, but banks will struggle to make up lost revenue.
-
When HSBC’s former head of global FX cash trading Mark Johnson learned that he had a window of just over 30 minutes to move the sterling exchange rate and profit from an approaching client trade, he said: “Ohhh f***ing Christmas,” according to US prosecutors.
-
Traders claiming to have profited from the Brexit vote were slow to identify themselves in the wake of the historic decision for the UK to leave the European Union.
-
Brexit will deal a mighty blow to the international and diverse City of London that has thrived for 30 years – but investment banks have bigger worries than the location of their EU offices.
-
SoFi is becoming increasingly reliant on former Deutsche Bank staff as it seeks to expand the use of complex financing structures to fuel growth in its loan sales.
-
Cheerleaders for marketplace lending took comfort from two events in late May that seemed to signal a potential recovery in a sector that had been rocked by the near failure of Lending Club, the leading listed specialist in online lending.
-
As Goldman Sachs released the worst first quarter results by a leading US dealer in April, it placed a video discussion with Game of Thrones co-creator David Benioff in prime position on its corporate website.
-
Goldman Sachs had a logical, humdrum reason to acquire $16 billion of deposits from GE Capital to boost its fledgling online retail operation, GS Bank.
-
A botched move to take the distressed credit out of Credit Suisse and an ‘acceleration’ of the strategic plan give the impression the bank’s new leader is making it up as he goes along.
-
The European Central Bank’s announcement that it will extend its debt purchases to corporate bonds has given a boost to the region’s investment banks.
-
Deutsche Bank’s co-chief executive John Cryan may find the bonus obsession of his investment bankers hard to understand. He will need to keep them motivated if he is to have any chance of pulling off a hugely challenging turnaround plan for the bank, however.
-
Deutsche Bank’s co-CEO John Cryan should follow the playbook of Standard Chartered CEO Bill Winters and mount a public campaign to claw back bonuses from former managers.
-
The Basel Committee on Bank Supervision released long-awaited guidance on a new capital regime for market risk in January. It did not, however, solve the mystery of which bank was the outlier in a study of the potential effect of a change in trading risk evaluation.
