The Banking and Strategy Initiative

Chillin' out till it needs to be funded

Preview : Bank Results Season First Quarter 2014 : JPM and GS scrape by in the IPO rush

Courtesy: markets.ft.com

Most banks fail to get advisory income into the house

 

Most banks fail to get advisory income into the house

 

 

JPM and GS scrape by in the IPO rush

JPM and GS scrape by in the IPO rush

 

The M&A pie is still big, credit card settlements are still going on, Citi has been rejected for dividends again along with four foreign banks by the Fed, but most biggies will outscore the deflated expectations from earnings season as flows move back into equities led by Emerging markets that got a big bump of $2.5 Bln this week adding to the $16 bln inflows this month including $7 bln in debt (Global funds/ETF flows) Qualified mortgage rules still have not been formally approved and FMIC still a paper tiger far from seeing action as banks depend more on themselves to securitise and refinance the mortgage book to create space lending more speed to mid sized and smaller banks this year in lending

Deal making is still on, the Jobs picture rosy, but there will be no acceleration to the recovery

Munis are also a fast paced market yet even as Sewer Bonds score as high as GO bonds in a big quarter for Detroit and Puerto Rico. The Euro is finally trending Down probably below 1.35 levels as the ECB gets ready to put in a$1 Tln QE in place ( again thru LTRO bonds) and the Fed stil has to taper

IB trends FT

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