Credit Suisse’s Brexit ban is a display of neutrality its clients should cheer Most multinational investment banks with European headquarters in London should want the UK to stay within the EU. An exit would mean higher short-term costs, and might force them to relocate some staff to another European country, in order to ensure international clients have full access to the single market. Yet overt partisanship could unnerve certain clients ...
Why volatility is bad news for investment banks Recent market volatility isn’t good news for investment banks, JPMorgan’s Kian Abouhossein and team argued, and leaves Goldman Sachs and Morgan Stanley near the bottom of their pecking order. They explain: "Although volatility is good for investment banks, recent market turmoil has led to a spike in market volatility (avg VIX +100% since 15 Aug) which poses some residual short positioning risks such as correlation. Generally ...
Credit Suisse, Barclays, UBS, SocGen: Where To Sell EUR/USD Credit Suisse: "EURUSD has been capped below the 50% retracement of the recent fall and the 55-day average at 1.1117/32, and reversed lower. Beneath 1.0925 can open up a retest of the more important price lows at 1.0819/09. Near-term resistance moves to 1.1022. Above 1.1080/85 is needed to retest 1.1117/32."Barclays: "The move below nearby support in the 1.0925 area encourages ...
British Pound Selling to Continue on Static BOE, Hawkish FOMC Minutes Fundamental Forecast for Pound: Bullish Status-Quo BOE Announcement to Amplify Slide in Rate Hike Outlook Hawkish FOMC Minutes to Help Undermine the Pound’s Yield Appeal One might have expected the British Pound to move confidently higher after the Scottish Independence referendum passed without disrupting the status quo considering the Bank of England ...
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