5, 6, seven major stories, are driving us forward. Simply an open question with all that is going on, what has your eye this morning . Jonathan the italian bond market. I know that feels a bit off the beaten road, but right now rallying aggressively over the less capital weeks. Look at the spread of btps to german debt at the moment. It is about 20 basis point. That was about 280 earlier in the year. That is one to watch in the debt markets. Tom bond price up, yield down. What is the why . Is it a flight to quality . Jonathan reduced redenomination risk, i am not sure we are completely there yet where we can say that this market now trades like a proper sovereign. What that means, we used to question how long some of these countries would play into the euro zone. The risk of redenomination, moving out of the euro and being repriced in a different currency. The fiscal backstop of a couple of months ago, even though it has not been fully implement it, i think that gave people some confid
Morgan Stanley (NYSE:MS) Q3 2023 Earnings Call Transcript October 18, 2023 Morgan Stanley beats earnings expectations. Reported EPS is $1.38, expectations were $1.27. Operator: Good morning. Welcome to Morgan Stanley’s Third Quarter 2023 Earnings Call. On behalf of Morgan Stanley, I will begin the call with the following information and disclaimers. This call is being […]
The Goldman Sachs Group, Inc. (NYSE:GS) Q3 2023 Earnings Call Transcript October 17, 2023 Operator: Good morning. My name is Taryn and I will be your conference facilitator today. I would like to welcome everyone to the Goldman Sachs Third Quarter 2023 Earnings Conference Call. On behalf of Goldman Sachs, I will begin the call […]
Five years ago, the race to be the bank's next CEO was Ted Pick's to lose. But now that wealth management is Morgan Stanley's main driver, can the trading boss deliver?