Wall Street Banks Likely Stung Again By Bad Bond-trading Quarter

“From what I can see, it’s mainly weaker activity levels – activity levels are just very low,” etf trading signals strategy said Richard Ramsden, an analyst who covers banks for Goldman Sachs. There are already signs of poor third-quarter results. The investment bank Jefferies Group LLC said earlier this month that its fixed-income trading revenue plunged 88 percent in the three months ended August 31, to $33 million from $266 million a year earlier. Jefferies is not directly comparable to bigger Wall Street banks because of its size and because it reports on a fiscal calendar whose quarters are a month earlier, but the results were still surprisingly poor. Last week, Deutsche Bank AG (DBKGn.DE) co-CEO Anshu Jain said at a conference that he expected bond-trading revenue would “decline significantly” in the third quarter due to weak volumes. Bank executives from JPMorgan Chase & Co (JPM.N), Morgan Stanley and Barclays PLC (BARC.L) have also recently warned in public comments that they expected trading revenues to be soft.
Source: http://www.reuters.com/article/2013/09/30/us-wallstreet-profits-idUSBRE98T0C920130930?feedType=RSS

UPDATE 1-CBOE delays start of extended VIX trading until Oct. 21

“We are pleased to provide our European customers with the opportunity to trade VIX futures during local trading hours, but we also believe our entire global base of VIX users will benefit by extended trading hours,” CBOE Holdings Chief Executive Officer Edward Tilly said in a statement. CBOE in February opened a communications hub outside of London to facilitate VIX futures trading. CBOE had initially planned to start extending the trading day in May. However, it delayed the increase after a half-day outage at the Chicago Board Options Exchange in April exposed software problems. Exchanges, including CBOE, have since become more cautious about rolling out product offerings, changing market structure and adding trading hours because of a Nasdaq OMX Group outage last month, said Chris Allen, equity analyst for Evercore Partners. Following the three-hour Nasdaq disruption, U.S.
Source: http://www.reuters.com/article/2013/09/30/cboe-vix-increase-idUSL1N0HQ1TM20130930

Florida Man Admits Insider Trading for Passing Gilead Tip

The U.S. Securities and Exchange Commission sued Dowd in January after his arrest by the Federal Bureau of Investigation. The number of people sued by the SEC or charged with insider trading by the Justice Department has more than doubled since 2008, according to data compiled by Bloomberg. There were 56 in 2008, 96 in 2009, 67 in 2010, 104 in 2011 and 125 in 2012.
Source: http://www.bloomberg.com/news/2013-09-30/florida-man-admits-insider-trading-for-passing-gilead-tip.html

UPDATE 1-Wall St banks likely stung again by bad bond-trading quarter

The most important thing to realize is that markets go up and down and your job is to move in sync with the markets. Be like Water. Trading Strategies Adopted From NFL QB Peyton Manning & Coca Cola Heres the 1 year chart for Coca-Cola (NYSE:KO). Study the chart and tell me what Peyton Manning would do? Dont move until you see it Fundamentally, Coca-Cola (NYSE:KO) is a rock solid company with global brand name recognition.
Source: http://smallbusiness.yahoo.com/advisor/trading-strategies-adopted-nfl-qb-peyton-manning-coca-183329064.html

Trading Strategies Adopted From NFL QB Peyton Manning & Coca-Cola

31, to $33 million from $266 million a year earlier. Jefferies is not directly comparable to bigger Wall Street banks because of its size and because it reports on a fiscal calendar whose quarters are a month earlier, but the results were still surprisingly poor. Last week, Deutsche Bank AG co-CEO Anshu Jain said at a conference that he expected bond-trading revenue would “decline significantly” in the third quarter due to weak volumes. Bank executives from JPMorgan Chase & Co, Morgan Stanley and Barclays PLC have also recently warned in public comments that they expected trading revenues to be soft. JPMorgan, which is scheduled to post third-quarter results on Oct. 11, will be the first big Wall Street bank to report.
Source: http://in.reuters.com/article/2013/09/30/wallstreet-profits-idINL1N0HQ0L120130930

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