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SNAFU
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The Big Unwind Hits Investment Banking - Wolf Richter -

Could not happen to a nicer bunch of people
/sarc

Commented 3122 days ago

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Beginning of the headline :Everyone but China. The meme has been that central-bank-imposed low interest rates and negative interest rates are killing bank earnings, and that oil-and-gas loan loss reserves maul what’s left of these earnings. But it’s tough for banking all around, as the global QE bonanza is bumping into real-world limits. And the Big Unwind has started. For investment banking revenues, a key income source for “systemically important” banks, it has been one heck of a terrible first quarter, according to Dea... Read More

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