Investment Bank Earnings Week (Q2)
So its earnings week for many BBs. I'm curious to see any reactions that you guys might have.
Morgan Stanley absolutely crushed it today, GS had the best earnings outperformance in nearly a decade (with trading revenues up some 150%), BOFA had a bit of a different story due to the nature of its business and COVID defaults.
So is the short term future of banking better than we may have expected? And what does this mean for bonuses this year at places like MS (I had read a couple of comments during the early stages of COVID that bonuses would be almost non-existent)? Any insights or trends that anyone can provide to a prospective monkey/intern are greatly appreciated
Hi Intern in IB-M&A, whoops, looks like nobody chimed in here.... maybe one of these discussions below is relevant:
More suggestions...
Fingers crossed that one of those helps you.
Nah
More volatility creates more opportunity, that's why you saw fixed income trading results drive positive results for JPM/GS/MS. If you look into IB revenue results, the surges were in the capital markets- there is still less deal flow going around for M&A deals.
I would say that banking is definitely doing better than expected, but the threat continues as a struggling economy would definitely hinder banks. I think right now you're seeing some of the big guys being able to capitalize on unprecedented events.
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