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Sales guys - what would you make of this?
Earlier in the year, i was speaking to a client on the bloomie group chat based in another region about some quick market questions - where do u see rates bla bla. This client has never done much business with the firm or speaks much, and my teammates who cover him in that region do not have a close...
How does supply & demand effect bond yields vs equity prices?
Will preface this by saying I'm not a finance guy but trying to learn more, although I majored in Finance back in the day... Bonds confuse me because i feel like yields can change for many reasons and some of them seem contradicting. As I understand it, bond yields will fall when the stock market is...
Podcast - help me find it?
I used to listen to a podcast of a PM from Europe (continental European-type voice) who would give his views on the markets on a website which looked like it was uploaded on soundcloud. 10-15 minute snippets. Analogies about discussions with other PM's on their macro views, etc. I can't remember the...
Wells Fargo - Global Markets, how bad is it reputation wise?
I got an offer to join Wells Fargo. I think the offer is relatively low, the base is comparable to BBs but the average bonuses seem very low, I'd say extremely low. My question is, how bad is Wells Fargo, especially IB? Of course it's not even remotely comparable to other BBs but is the reputation...
Best types of questions to ask BB traders
How many technical questions are reasonable to ask on a networking call for S&T? It can sometimes be a hard balance to show curiosity for the person's work while being respectful of their time. I'd appreciate any advice. Thank you so much!
INTEREST RATES (HELP)
Can someone PLEASE help me understand all the different types of interest rates and how they affect eachother? My boss keeps throwing different rates at me including Policy Rate, Discount Rate, Prime Rate, Federal Funds Rate, Interest rate. Which one is the main rate that everyone talks about that's...
Trading and Beating the Market
Been doing some reading on personal investing lately and that's got me converted to the index investing camp. It seems like in a deep market (equities) with nearly instantaneous dissemination of information, it's nearly impossible to beat the market. I want to say that opportunities to beat the...
Markets with JP Morgan or Corporate Banking with Wells Fargo?
Hi everyone. I have two amazing offers but am not sure what to pick. I have an offer from WF for Corporate Banking, but I do not know where I will be placed in terms of location and team. On the other hand, I have a Markets internship offer from JP Morgan in NYC. I want to be in NYC, and I know JPM...
Economics masters student - Need advice on beginning of career + job opportunities
I recently graduated in Economics and Politics and have started a masters in Economics. I have also completed two internships, in the summer of 2021 and 2022. I only managed to convert my 2021 internship (2022 internship had no headcount), however since then, my interests have changed greatly and I...
The Ministry of Inflation
The situation Central banks around the world are facing their stiffest inflationary challenge since the 1970s. Commodity price shocks due to Russia’s invasion of Ukraine, supply-chains snarled by lockdowns in China and consumers looking to spend cash accumulated during the pandemic have combined...
How to create unique market outlook
I am interviewing for my school's respective finance organization and I need to prepare outlooks for the S&P and BRICS countries, but I have been stuck with what to choose as my drivers. I am new to all of this and wondering if anyone has advice for how to go about this.
Markets/S&T raises?
Have heard of JP raising base salary for S&T and ER. For those at other BBs/other banks: are any set to follow? I would think it is likely given banks follow each other generally with raises.
What are good products to cover in S&T?
What's up folks, I'll be doing an internship in markets on product desk rotations and I have the option to pick a desk sometime afterward. Obviously, nothing is guaranteed, but I would like to be prepared if things end up going favorably. I have no preference and honestly don't know too much, just...
Market Crash
What is actually going on right now? Is there going to be a market crash? The housing market is going crazy, crypto is crazy, Gov. printing money is crazy, and VC/PE seem crazy. Don't you think this is going to pop? I'm not really here to debate anything. I just want to get insight.
RE: a question asked of Ken Griffin last week (RE: market-makers)
for someone who doesn't know how all the plumbing works in this process, i had a question about this exchange between Ken Griffin and Rep. Sherman: "Is the Robinhood customer getting the same price as the Fidelity customer?" Sherman asked Griffin. "Congressman, I believe that's an excellent...
Tier 3 IB Markets Internship or HFT Trading Firm Internship??
I'm in my second year studying Maths at a Target Uni in the UK and I need advice in which one of these two internships to go for: The first internship is in the Markets Division (Cross-Asset) at a Tier 3 Investment Bank in London. The second internship is as a Trading Intern at a high-frequency...
[HELP REQUEST] How to prepare for the markets for S&T Interview?
Hi, Questions: How would you go about "following the markets" for S&T / trading internships ? S&T interviewers, what do you ask and what are you looking for in the markets portion of an interview? Also please critique my preparation methods: 1) Prepare for the classics * cheat sheet table of indices...
Life in Markets and Securities Services
Hey guys, I was reading up on different groups under firms and their institutional groups, and I was wondering, as someone new to the world of finance, what life is like in this field at a BB . Is markets and securities the same as sales and trading ? How are the hours compared to normal IB? What's...
Bank of America: ECM vs DCM
Hey, can someone let me know your thoughts on each respective group. I know the differences between what the groups do, but which would you choose and why
J.P. Morgan Markets (Sales, Trading, Orig.+Structuring) Summer Analyst 2021 Question
Hi guys. I am interested in getting exposure to Sales and Trading in my Summer 2021 role. Apps just came out few days ago....Should I apply to all 3 of these "Market" roles? Are JPM 's programs rotational? Like would I be able to try out both a sales desk and a trading desk (i.e. like a traditional...
Investing Ideas - Where are you looking? How do you filter through the noise?
There is a lot going on right now and I'm personally having a difficult time digesting the different variables that are at play. I'm curious as to folks' playbook right now given the environment and their approach. I'd say in general, I am a believer in indexing and that beating the market is a...
Breaking into ER during Off-Cycle
I've been trying to break into ER for the past 2 months following graduation from a target with one summer of IB experience at a small no-name boutique, and several other things on the resume that should convey my interest in the markets (numerous investment books read, investment club activities,...
From a blow up mattress to your own Tuscan Villa
Airbnb has announced its entrance into the luxury home space. According to the New York Times, Airbnb Luxe is the newest tool for renting out castles in the French countryside with a full waitstaff and much more. All renters are assigned a trip designer — similar to a concierge or travel adviser...
Facebook: Social Media Giant to Financial Institution?
Facebook will be launching their own cryptocurrency in the coming days, known as Project Libra. quotes "...this is a major initiative for Facebook, and one that has the potential of putting the company front and center in areas beyond advertising, including commerce and financial services,...
Best desk at Nomura Hong Kong (Markets)
I will be interning in Nomura's Markets Division in Hong Kong. They recently sent me an email asking for my top 3 desk preferences. I have heard that Nomura is very strong in Fixed Income in HK /APAC. Any advice on the best desks/asset classes in Nomura? Thanks in advance!
Is S&T full-time rotational program beneficial?
Background: I received a BB bank FT offer after the S&T rotational internship this summer. The FT program consists of four rotations in two years then you'll be placed at a desk as an Associate. I've done intensive reading on WSO and some of the posts are super helpful in landing a return offer, and...
How to prepare on markets
I have an interview coming up for the Investment Banking division in a Boutique bank in London. They told me that would be a discussion on markets. However, I am not sure what aspect of markets I should be prepared to discuss. Should I be focusing on becoming knowledgeable on a particular market or...
Goldman Sachs PWM FICC Solutions Group
I have a superday for GS PWM FICC team and would love to know if anyone has any recommendations on what to be prepared for and/or what technicals to expect? It is specific for the Fixed Income team so I am guessing technicals such as bond drivers, duration, convexity, fed rates, inflation, etc. Does...
2017 M&A Trends to Know
Although recruiting season is coming to a close, for those still going through interviews or anyone who just wants to brush up on the current state of the industry, I thought I'd post/summarize this piece from JPM about some of the key trends in the M&A market in 2017 as year-end approaches. This...
Netflix Aims To Skip That Title Sequence
Netflix is currently testing a new function that will allow viewers to skip over a show's title sequence. This "skip intro" button is already being extolled by computer-streamers who are tired of watching a show's intro over and over again, especially while binge watching. In my opinion, the...
Citi: Markets vs Securities Services
I had trouble finding the differences between the SA programs in the Markets and Securities Services programs at Citi . Asking if anyone familiar with the firm could elaborate on the difference each program.
Macro research Emerging markets
Anyone has access or knows where One Can gain access to macroeconomic research of some significance and depth of some of the Emerging markets (ex china, think oriental Europe and latam) ? Something like the stuff done here: (https://www.google.it/url?sa=t&source=web&rct=j&u…) It doesnt need to be...
Which Desks are the best at Deutsche Bank London?
I recently managed to land myself a summer intenship in Deutsche Bank's Markets Division (S&T). I was wondering which desks are the best at the moment (in terms of prestige/deal flow). Just as a bit of context, at the moment the security I know the most about is equities, and I'm not extremely...
PDF of "Fundamentals of Futures and Option Markets" Hull
Anyone have a copy they could send my way? Would be much appreciated! Can be any edition from 5th and up. Thanks, again.
Rewind - Markets: How to get into them and the future of brokering + Q&A
In case you missed our May 12th webinar entitled Markets: How to get into them and the future of brokering , have no fear. The full recording of the webinar can be found below (free for only 24 hours and then it goes into our video library ). Do you want to a 1 on 1 mentoring session with JP? Click...
Aspiring billionaire
Hey wso didn't know what forum to post this In but stocks and markets seems the most closely related and appropriate, basically I really want to be a billionaire, I want to make and be worth a billion dollars or two within my lifetime preferably sometime soon like say 10 years. I've been interested...
The Floor
Mod Note (Andy): WSO readers qualify for a $100 discount to Jared's Daily Dirtnap daily market newsletter...just email [email protected] and mention "WSO Monkey Discount" You can follow Jared on twitter at @dailydirtnap As you guys probably know by now, I was a floor guy. I wasn’t technically...
Pre-Summer Internship Skill Grinding Help
Hello. I apologize in advance for the length of this post. I'm a junior economics major at a top-60 nationally ranked college in New York City. I am interested in the JP Morgan Corporate Analyst summer internship and I'm thinking about applying before the deadline in March. I have a 3.5+ GPA and...
couple of questions regarding investment banking/capital markets
a couple of quick questions that i couldn't find answers to after googling/searching around. 1. is capital markets considering an investment banking position? I have an offer from BAML Capital Markets and was wondering if it's considered a FO investment banking position or not? Would I be able to...
Bank of America Merrill Lynch Capital Markets FO considered IBD?
a couple of quick questions that i couldn't find answers to after googling/searching around. 1. is capital markets considering an investment banking position? I have an offer from BAML Capital Markets and was wondering if it's considered a FO investment banking position or not? Would I be able to...
Keeping up with the stock market
This year I really want to do a better job of monitoring world economics ( stock market, bond market, sectors, futures, commodities, etc) I usually get overwhelmed with the sources of information out there and have a hard time following daily events. I would like to get your opinion on a repeatable...
Just signed offer letter joining ECM group at a BB..feeling miserable..
So I just got my offer letter to join ECM group at a BB that expired today, and I sent it in. It was my only offer despite numerous attempts at networking along the way. I feel like this offer is worthless and I'll never get to where I want to be ( HF ). I just see no exit ops at all within ECM and...
Many a slip between the cup & the lip: From forward value to value per share today
Valuing young, growth companies is never easy to do but it is well worth doing, partly because it forces you think through the business that the firm is in and what it is doing (or needs to do) to succeed. I know that many of you disagreed with my assumptions on the Tesla valuation and this post is...
Who Else Noticed This Big Short Today (I Didn't)
Today, someone took out a huge short position on the S&P 500 on the order of about 15,450 contracts. The trade dripped into the market over the course of roughly an hour and a quarter, strike of 1995. Average fill price seemed to be around $133. More info here: http://cnb.cx/QhrpNy Extremely...
Thoughts on Ditto Trade?
Hi Monkeys, Have you guys ever heard of Ditto Trade ? It's a platform that lets people participate in the trades of 'lead traders', almost like syndication. I bumped into it through one of the blogs I follow, but I am curious about perspectives from those of you who trade actively, either...
Market Commentary by James Investment Research
This is syndication from jir-inc.com Stock Market Analysis Conclusions: The market hit a headwind last week as the S&P 500 index had its first weekly loss in 2013. The index fell 0.22%. The smaller stocks in the Russell 2000 index fared worse, slipping 0.74%. The basic materials and consumer...
Morgan Stanley Labels QE3 a Flop, Asks for QE4
Last week I wrote about the danger of giving the markets more stimulus as the need for another round of quantitative easing screamed just one thing at me, dependency. And while we got the rush into equities that I like the rest of the world expected, we also got the slowdown once the sugar rush...
More Easing? Really?
With the markets on the edge of their seats in anticipation of the recent announcement of QE3 by the FED, it begs the question, should we really be getting more monetary stimulation? While evidence demonstrates that the government bailout prevented a full fledged financial meltdown, the actual...
Global Stock Markets: Long Hope, Short Reality
This is a big week for markets in terms of economic data. Yesterday we had a data dump of mammoth proportions and the data wasn’t very promising. A glance, we saw Australian, Korean, Spanish, Italian, French, German, UK, and Brazilian Purchasing Managers Index (PMI) all print sub-50...
How To Follow The Markets Like A Pro – For Free!
So you are fascinated by the financial markets and maybe even interested in trading ? Great, but access to information doesn't come cheap and can be a real differentiator. After all, how can you possibly get an edge on what is going on if you don't even have a fraction of the information at your...
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