MetalGuru
2021-10-11
Good macro environment and many IPO coming !
The Pandemic’s Over for Big Banks. Now Comes the Hard Part.<blockquote>对于大银行来说，疫情已经结束。现在困难的部分来了。</blockquote>
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Now Comes the Hard Part.<blockquote>对于大银行来说，疫情已经结束。现在困难的部分来了。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135334989","media":"WSJ","summary":"Bank profits are expected to plateau, exposing weak growth in banks’ core businesses\n\nBanks are movi","content":"<p>Bank profits are expected to plateau, exposing weak growth in banks’ core businesses</p><p><blockquote>银行利润料趋于平稳暴露银行核心业务增长乏力</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2b88dc4cfdc4418e94ec02f611067977\" tg-width=\"1184\" tg-height=\"697\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Banks are moving past the pandemic that sent quarterly profits on a wild ride. That is drawing attention to their weak spots.</p><p><blockquote>银行正在摆脱季度利润大幅飙升的疫情。这引起了人们对他们弱点的关注。</blockquote></p><p> America’s biggest banks report third-quarter earnings this week, starting with JPMorgan Chase & Co. on Wednesday. Analysts expect banks in the S&P 500 to report aggregate profits of about $31 billion, up about 20% from a year ago but down 20% from the second quarter, according to FactSet. Profits are expected to hold steady in the fourth quarter.</p><p><blockquote>美国最大的银行本周将公布第三季度收益，摩根大通公司将于周三公布。FactSet的数据显示，分析师预计标普500银行的总利润约为310亿美元，同比增长约20%，但较第二季度下降20%。预计第四季度利润将保持稳定。</blockquote></p><p> The profit plateau follows a manic 18 months. Banks spent much of 2020 stockpiling tens of billions of dollars to prepare for losses on consumer and commercial loans, which sent their profits down sharply. The improving economy allowed banks to free up most of those loan-loss reserves. Profits rose.</p><p><blockquote>利润平台期是在狂躁的18个月之后。银行在2020年的大部分时间里储备了数百亿美元，为消费者和商业贷款的损失做准备，这导致它们的利润大幅下降。经济的改善使银行能够释放大部分贷款损失准备金。利润上升。</blockquote></p><p> Those pandemic blips concealed lackluster growth in banks’ lending business and temporarily swelled trading revenue. Analysts are trying to figure out what the new normal looks like.</p><p><blockquote>这些疫情事件掩盖了银行贷款业务增长乏力的情况，并暂时增加了交易收入。分析师们正试图弄清楚新常态是什么样子。</blockquote></p><p> Bank stocks have been among the year’s best performers, but their hot streak has cooled. The KBW Nasdaq Bank Index, up nearly 40% this year, barely budged in the third quarter.</p><p><blockquote>银行股一直是今年表现最好的股票之一，但它们的火爆势头已经降温。KBW纳斯达克银行指数今年上涨了近40%，但在第三季度几乎没有变化。</blockquote></p><p> Here are a few things to look for in bank earnings this week.</p><p><blockquote>以下是本周银行收益中值得关注的一些内容。</blockquote></p><p> <b>Loan Growth</b></p><p><blockquote><b>贷款增长</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/75a2754df8d0c81b257707685d7bbd6d\" tg-width=\"973\" tg-height=\"696\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The U.S. government’s efforts to keep the economy afloat during the pandemic left individuals and businesses flush with cash. That means they aren’t borrowing.</p><p><blockquote>美国政府在疫情期间为维持经济运转所做的努力让个人和企业拥有充足的现金。这意味着他们没有借钱。</blockquote></p><p> Total loans at U.S. banks are up just 1% since the end of June, according to Federal Reserve data.</p><p><blockquote>根据美联储的数据，自6月底以来，美国银行的贷款总额仅增长了1%。</blockquote></p><p> Last quarter, bank executives said increased credit-card spending, especially on travel and dining,would fuel loan growth. Instead, customers are paying off their balances and businesses aren’t drawing down loans, executives have said at recent conferences. Hopes are now resting on the coming holiday season.</p><p><blockquote>上个季度，银行高管表示，信用卡支出的增加，尤其是旅行和餐饮支出的增加，将推动贷款增长。高管们在最近的会议上表示，相反，客户正在还清余额，企业也没有提取贷款。现在希望寄托在即将到来的假期上。</blockquote></p><p> “Though loan growth has been slow to recover, we believe that we have reached the inflection point,”Goldman Sachs bank analysts wrote.</p><p><blockquote>高盛银行分析师写道：“尽管贷款增长恢复缓慢，但我们认为我们已经达到了拐点。”</blockquote></p><p> <b>Interest Rates</b></p><p><blockquote><b>利率</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/adb08678b2982d958f27c2c5aa9c7799\" tg-width=\"959\" tg-height=\"679\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The Federal Reserve has kept interest rates near zero, depressing banks’ lending profits.</p><p><blockquote>美联储将利率维持在接近零的水平，压低了银行的贷款利润。</blockquote></p><p> Net interest margin, the amount banks make on lending minus what they pay on deposits, fell again in the second quarter, plumbing a new low, according to the Federal Deposit Insurance Corp.</p><p><blockquote>根据联邦存款保险公司的数据，净息差（银行贷款收入减去存款支付的金额）在第二季度再次下降，创下新低。</blockquote></p><p> Analysts aren’t predicting much of an improvement in the third quarter. At the four biggest banks—JPMorgan, Bank of America Corp.,Citi group Inc. and Wells Fargo & Co.—analysts expect both lending profits and margins to remain flat for the fifth straight quarter.</p><p><blockquote>分析师预计第三季度不会有太大改善。摩根大通、美国银行、花旗集团和富国银行这四家最大银行的分析师预计，贷款利润和利润率将连续第五个季度持平。</blockquote></p><p> The Fed isn’t likely to raise rates until next year. Bank executives can expect to face questions about how much they can make when rates increase, and what will happen if the Fed doesn’t move as expected.</p><p><blockquote>美联储要到明年才可能加息。银行高管可能会面临这样的问题：加息时他们能赚多少钱，以及如果美联储不按预期采取行动会发生什么。</blockquote></p><p> <b>Markets</b></p><p><blockquote><b>市场</b></blockquote></p><p> Frenetic trading activity has been a bright spot for Wall Street since Covid-19 tore through the economy,but it is fading.</p><p><blockquote>自Covid-19席卷经济以来，狂热的交易活动一直是华尔街的一大亮点，但这种情况正在消退。</blockquote></p><p> Stock-trading revenue is still above pre-pandemic levels, bank executives have said at recent conferences, but fixed-income revenue is expected to tumble.</p><p><blockquote>银行高管在最近的会议上表示，股票交易收入仍高于大流行前的水平，但固定收益收入预计将大幅下降。</blockquote></p><p> Deutsche Bank analysts projected a 5% increase in markets revenue among banks it covers, with a 14% increase in equities trading. They expect a 20% drop in fixed-income, currencies and commodities revenue.</p><p><blockquote>德意志银行分析师预计，其覆盖的银行的市场收入将增长5%，其中股票交易将增长14%。他们预计固定收益、货币和大宗商品收入将下降20%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/df4236b4a8d43321fa9f783fc78151dc\" tg-width=\"959\" tg-height=\"757\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Still, one big business is booming: investment banking. Global mergers are on a record pace and underwriting volumes are high, particularly for initial public offerings and high-yield bonds.</p><p><blockquote>尽管如此，一项大业务仍在蓬勃发展：投资银行业。全球并购正以创纪录的速度进行，承销量也很高，尤其是首次公开发行和高收益债券。</blockquote></p><p> Jefferies Financial Group Inc.’s fiscal third-quarter results, released Sept. 30, offer a glimpse of the environment bigger rivals are seeing. The firm’s investment-banking fees doubled, hitting a record. Chief Executive Richard Handler said Jefferies’s backlog of potential deals was as big as it has ever been.</p><p><blockquote>杰富瑞金融集团(Jefferies Financial Group Inc.)9月30日发布的第三财季业绩让我们得以一窥更大竞争对手所面临的环境。该公司的投资银行费用翻了一番，创下历史新高。首席执行官理查德·汉德勒(Richard Handler)表示，杰富瑞积压的潜在交易数量一如既往。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Pandemic’s Over for Big Banks. Now Comes the Hard Part.<blockquote>对于大银行来说，疫情已经结束。现在困难的部分来了。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Pandemic’s Over for Big Banks. Now Comes the Hard Part.<blockquote>对于大银行来说，疫情已经结束。现在困难的部分来了。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">WSJ</strong><span class=\"h-time small\">2021-10-11 11:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Bank profits are expected to plateau, exposing weak growth in banks’ core businesses</p><p><blockquote>银行利润料趋于平稳暴露银行核心业务增长乏力</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2b88dc4cfdc4418e94ec02f611067977\" tg-width=\"1184\" tg-height=\"697\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Banks are moving past the pandemic that sent quarterly profits on a wild ride. That is drawing attention to their weak spots.</p><p><blockquote>银行正在摆脱季度利润大幅飙升的疫情。这引起了人们对他们弱点的关注。</blockquote></p><p> America’s biggest banks report third-quarter earnings this week, starting with JPMorgan Chase & Co. on Wednesday. Analysts expect banks in the S&P 500 to report aggregate profits of about $31 billion, up about 20% from a year ago but down 20% from the second quarter, according to FactSet. Profits are expected to hold steady in the fourth quarter.</p><p><blockquote>美国最大的银行本周将公布第三季度收益，摩根大通公司将于周三公布。FactSet的数据显示，分析师预计标普500银行的总利润约为310亿美元，同比增长约20%，但较第二季度下降20%。预计第四季度利润将保持稳定。</blockquote></p><p> The profit plateau follows a manic 18 months. Banks spent much of 2020 stockpiling tens of billions of dollars to prepare for losses on consumer and commercial loans, which sent their profits down sharply. The improving economy allowed banks to free up most of those loan-loss reserves. Profits rose.</p><p><blockquote>利润平台期是在狂躁的18个月之后。银行在2020年的大部分时间里储备了数百亿美元，为消费者和商业贷款的损失做准备，这导致它们的利润大幅下降。经济的改善使银行能够释放大部分贷款损失准备金。利润上升。</blockquote></p><p> Those pandemic blips concealed lackluster growth in banks’ lending business and temporarily swelled trading revenue. Analysts are trying to figure out what the new normal looks like.</p><p><blockquote>这些疫情事件掩盖了银行贷款业务增长乏力的情况，并暂时增加了交易收入。分析师们正试图弄清楚新常态是什么样子。</blockquote></p><p> Bank stocks have been among the year’s best performers, but their hot streak has cooled. The KBW Nasdaq Bank Index, up nearly 40% this year, barely budged in the third quarter.</p><p><blockquote>银行股一直是今年表现最好的股票之一，但它们的火爆势头已经降温。KBW纳斯达克银行指数今年上涨了近40%，但在第三季度几乎没有变化。</blockquote></p><p> Here are a few things to look for in bank earnings this week.</p><p><blockquote>以下是本周银行收益中值得关注的一些内容。</blockquote></p><p> <b>Loan Growth</b></p><p><blockquote><b>贷款增长</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/75a2754df8d0c81b257707685d7bbd6d\" tg-width=\"973\" tg-height=\"696\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The U.S. government’s efforts to keep the economy afloat during the pandemic left individuals and businesses flush with cash. That means they aren’t borrowing.</p><p><blockquote>美国政府在疫情期间为维持经济运转所做的努力让个人和企业拥有充足的现金。这意味着他们没有借钱。</blockquote></p><p> Total loans at U.S. banks are up just 1% since the end of June, according to Federal Reserve data.</p><p><blockquote>根据美联储的数据，自6月底以来，美国银行的贷款总额仅增长了1%。</blockquote></p><p> Last quarter, bank executives said increased credit-card spending, especially on travel and dining,would fuel loan growth. Instead, customers are paying off their balances and businesses aren’t drawing down loans, executives have said at recent conferences. Hopes are now resting on the coming holiday season.</p><p><blockquote>上个季度，银行高管表示，信用卡支出的增加，尤其是旅行和餐饮支出的增加，将推动贷款增长。高管们在最近的会议上表示，相反，客户正在还清余额，企业也没有提取贷款。现在希望寄托在即将到来的假期上。</blockquote></p><p> “Though loan growth has been slow to recover, we believe that we have reached the inflection point,”Goldman Sachs bank analysts wrote.</p><p><blockquote>高盛银行分析师写道：“尽管贷款增长恢复缓慢，但我们认为我们已经达到了拐点。”</blockquote></p><p> <b>Interest Rates</b></p><p><blockquote><b>利率</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/adb08678b2982d958f27c2c5aa9c7799\" tg-width=\"959\" tg-height=\"679\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The Federal Reserve has kept interest rates near zero, depressing banks’ lending profits.</p><p><blockquote>美联储将利率维持在接近零的水平，压低了银行的贷款利润。</blockquote></p><p> Net interest margin, the amount banks make on lending minus what they pay on deposits, fell again in the second quarter, plumbing a new low, according to the Federal Deposit Insurance Corp.</p><p><blockquote>根据联邦存款保险公司的数据，净息差（银行贷款收入减去存款支付的金额）在第二季度再次下降，创下新低。</blockquote></p><p> Analysts aren’t predicting much of an improvement in the third quarter. At the four biggest banks—JPMorgan, Bank of America Corp.,Citi group Inc. and Wells Fargo & Co.—analysts expect both lending profits and margins to remain flat for the fifth straight quarter.</p><p><blockquote>分析师预计第三季度不会有太大改善。摩根大通、美国银行、花旗集团和富国银行这四家最大银行的分析师预计，贷款利润和利润率将连续第五个季度持平。</blockquote></p><p> The Fed isn’t likely to raise rates until next year. Bank executives can expect to face questions about how much they can make when rates increase, and what will happen if the Fed doesn’t move as expected.</p><p><blockquote>美联储要到明年才可能加息。银行高管可能会面临这样的问题：加息时他们能赚多少钱，以及如果美联储不按预期采取行动会发生什么。</blockquote></p><p> <b>Markets</b></p><p><blockquote><b>市场</b></blockquote></p><p> Frenetic trading activity has been a bright spot for Wall Street since Covid-19 tore through the economy,but it is fading.</p><p><blockquote>自Covid-19席卷经济以来，狂热的交易活动一直是华尔街的一大亮点，但这种情况正在消退。</blockquote></p><p> Stock-trading revenue is still above pre-pandemic levels, bank executives have said at recent conferences, but fixed-income revenue is expected to tumble.</p><p><blockquote>银行高管在最近的会议上表示，股票交易收入仍高于大流行前的水平，但固定收益收入预计将大幅下降。</blockquote></p><p> Deutsche Bank analysts projected a 5% increase in markets revenue among banks it covers, with a 14% increase in equities trading. They expect a 20% drop in fixed-income, currencies and commodities revenue.</p><p><blockquote>德意志银行分析师预计，其覆盖的银行的市场收入将增长5%，其中股票交易将增长14%。他们预计固定收益、货币和大宗商品收入将下降20%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/df4236b4a8d43321fa9f783fc78151dc\" tg-width=\"959\" tg-height=\"757\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Still, one big business is booming: investment banking. Global mergers are on a record pace and underwriting volumes are high, particularly for initial public offerings and high-yield bonds.</p><p><blockquote>尽管如此，一项大业务仍在蓬勃发展：投资银行业。全球并购正以创纪录的速度进行，承销量也很高，尤其是首次公开发行和高收益债券。</blockquote></p><p> Jefferies Financial Group Inc.’s fiscal third-quarter results, released Sept. 30, offer a glimpse of the environment bigger rivals are seeing. The firm’s investment-banking fees doubled, hitting a record. Chief Executive Richard Handler said Jefferies’s backlog of potential deals was as big as it has ever been.</p><p><blockquote>杰富瑞金融集团(Jefferies Financial Group Inc.)9月30日发布的第三财季业绩让我们得以一窥更大竞争对手所面临的环境。该公司的投资银行费用翻了一番，创下历史新高。首席执行官理查德·汉德勒(Richard Handler)表示，杰富瑞积压的潜在交易数量一如既往。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/the-pandemics-over-for-big-banks-now-comes-the-hard-part-11633874580?mod=markets_lead_pos2\">WSJ</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JPM":"摩根大通","BAC":"美国银行","WFC":"富国银行","GS":"高盛","C":"花旗","MS":"摩根士丹利"},"source_url":"https://www.wsj.com/articles/the-pandemics-over-for-big-banks-now-comes-the-hard-part-11633874580?mod=markets_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135334989","content_text":"Bank profits are expected to plateau, exposing weak growth in banks’ core businesses\n\nBanks are moving past the pandemic that sent quarterly profits on a wild ride. That is drawing attention to their weak spots.\nAmerica’s biggest banks report third-quarter earnings this week, starting with JPMorgan Chase & Co. on Wednesday. Analysts expect banks in the S&P 500 to report aggregate profits of about $31 billion, up about 20% from a year ago but down 20% from the second quarter, according to FactSet. Profits are expected to hold steady in the fourth quarter.\nThe profit plateau follows a manic 18 months. Banks spent much of 2020 stockpiling tens of billions of dollars to prepare for losses on consumer and commercial loans, which sent their profits down sharply. The improving economy allowed banks to free up most of those loan-loss reserves. Profits rose.\nThose pandemic blips concealed lackluster growth in banks’ lending business and temporarily swelled trading revenue. Analysts are trying to figure out what the new normal looks like.\nBank stocks have been among the year’s best performers, but their hot streak has cooled. The KBW Nasdaq Bank Index, up nearly 40% this year, barely budged in the third quarter.\nHere are a few things to look for in bank earnings this week.\nLoan Growth\n\nThe U.S. government’s efforts to keep the economy afloat during the pandemic left individuals and businesses flush with cash. That means they aren’t borrowing.\nTotal loans at U.S. banks are up just 1% since the end of June, according to Federal Reserve data.\nLast quarter, bank executives said increased credit-card spending, especially on travel and dining,would fuel loan growth. Instead, customers are paying off their balances and businesses aren’t drawing down loans, executives have said at recent conferences. Hopes are now resting on the coming holiday season.\n“Though loan growth has been slow to recover, we believe that we have reached the inflection point,”Goldman Sachs bank analysts wrote.\nInterest Rates\n\nThe Federal Reserve has kept interest rates near zero, depressing banks’ lending profits.\nNet interest margin, the amount banks make on lending minus what they pay on deposits, fell again in the second quarter, plumbing a new low, according to the Federal Deposit Insurance Corp.\nAnalysts aren’t predicting much of an improvement in the third quarter. At the four biggest banks—JPMorgan, Bank of America Corp.,Citi group Inc. and Wells Fargo & Co.—analysts expect both lending profits and margins to remain flat for the fifth straight quarter.\nThe Fed isn’t likely to raise rates until next year. Bank executives can expect to face questions about how much they can make when rates increase, and what will happen if the Fed doesn’t move as expected.\nMarkets\nFrenetic trading activity has been a bright spot for Wall Street since Covid-19 tore through the economy,but it is fading.\nStock-trading revenue is still above pre-pandemic levels, bank executives have said at recent conferences, but fixed-income revenue is expected to tumble.\nDeutsche Bank analysts projected a 5% increase in markets revenue among banks it covers, with a 14% increase in equities trading. They expect a 20% drop in fixed-income, currencies and commodities revenue.\n\nStill, one big business is booming: investment banking. Global mergers are on a record pace and underwriting volumes are high, particularly for initial public offerings and high-yield bonds.\nJefferies Financial Group Inc.’s fiscal third-quarter results, released Sept. 30, offer a glimpse of the environment bigger rivals are seeing. The firm’s investment-banking fees doubled, hitting a record. Chief Executive Richard Handler said Jefferies’s backlog of potential deals was as big as it has ever been.","news_type":1,"symbols_score_info":{"GS":0.9,"MS":0.9,"JPM":0.9,"BAC":0.9,"C":0.9,"WFC":0.9}},"isVote":1,"tweetType":1,"viewCount":801,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":37,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/828572143"}
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