Wall Street Meltdown?
With widespread news of layoffs and shitty bonus numbers, how do people see 2024 playing out?
Curious to hear people's thoughts.
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Bump
Yeah it’s gonna suck
To be honest, really no macro indications this year is going to be much better. IG market issuance is strong, maybe some pick up in ECM and acquisitions given companies are pretty used to the elevated rates. No indication from the Fed there’s any near term cuts coming, and the 3 cuts they projected for 24 will barely make much of a difference imho. I think ‘24 will be flat but S&P and Nasdaq could see double digit returns possibly. I definitely don’t think it will be worse than ‘23 though, just marginally better
Curious what your group focuses on? I’m in a tech coverage group at a middle tier BB and honestly the amount of deals we’re seeing is insane. We went from crickets to just being flooded with RFPs and mandates (again, this is not at GS or Centerview but a random bulge). I agree that it’s not going to be absolutely insane but there’s no doubt there’s a decent uptick activity in everything from ECM to m&a
Same. Low BB since Q4 2023 we are all busy in my coverage group
.
Bump interested
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