Morgan Stanley more than doubles Q4 Ficc revenues
All US banks see Ficc revenues improve substantially in Q4 versus a year ago
Buoyed by a more risk-on environment at the end of 2019, US banks with substantial fixed-income, currencies and commodities (Ficc) businesses made double-digit recoveries in the fourth quarter, compared with the dismal performances seen in Q4 2018.
Most US banks, however, saw their quarter-on-quarter Ficc revenues fall as yearly revenues rose.
In an impressive comeback, Morgan Stanley more than doubled its Ficc income between the last quarters of 2018 and 2019, from $564 million to $1.273
More on Trading
Chinese corporates shunned hedging during tariff upheaval
High hedging costs and increasingly stable spot rate meant exporters opted not to add FX hedges as RMB rose
For variation margin payments, cash is no longer king
Dealers are being pressed to accept corporate bonds and even equities as collateral for non-cleared trades
BNP Paribas eyes selective algo white label tie-ups
The French bank struck its first FX algo white-labelling partnership with Lloyds
Will Taiwan lifers ramp up FX hedging amid tariff convulsions?
As TWD remains strong against the US dollar, Taiwanese life insurers are still poised to act
Macro traders tread carefully ahead of tariff pause deadline
Uncertainty has held buy-siders back from both hedging and directional trades
Hedge funds return to HKD carry trade after May stop-outs
Widened interest rate differentials spur investors to re-enter positions, but risks remain
Why asset owners aren’t turning their backs on America (yet)
Pension and sovereign wealth investors see US exceptionalism outlasting policy-driven turmoil
Limited-loss hedges help US firms dodge costly FX moves
Structurers say US corporates’ use of options-based net investment hedging helped soften impact of USD selloff
