Wall Street just wrapped up a big week for earnings in the financial sector, and if there's one clear thing, it's that not all banks are built the same right now. With rising interest rates no longer the tailwind they once were, and margin pressure becoming a theme, investors are quickly drawing lines between the winners and the also-rans. While all three major bank stocks profiled below have rallied strongly since April, their post-earnings setups diverge rapidly. Let's see which ones are worth chasing and ...

华尔街人才争夺战升级，继高盛、摩根大通和摩根士丹利等华尔街投行后，花旗也要求初级分析师披露 外部工作邀约。 7月21日，据媒体报道，花旗集团已开始要求其新入职的投资银行分析师披露是否已接受其他公司的工 作邀约。这项被称为"证明"（attestation）的新规，旨阻止私募股权公司挖走其精心培养的初级人才。 这些举措共同构成了一张防御网，旨在增加初级分析师提前跳槽的门槛，也是对私募股权公司多年来激 进招聘模式的直接回应。 报道指出近年来，私募股权公司常常在投资银行的初级分析师入职数月后，就提前锁定他们未来数年的 工作合同，而这些分析师的昂贵培训成本则由投资银行承担。 花旗的做法呼应了高盛、摩根大通等其他大行的类似策略，标志着华尔街正在形成一道统一战线，以期 遏制人才在职业生涯早期就被"买方"机构预定的行业风气。 日益普遍的行业惯例 花旗并非个例。事实上，要求初级员工披露外部工作邀约，正迅速成为华尔街大型投行的标准操作。 据报道，高盛集团将要求其新入职的分析师每三个月确认一次，是否已接受外部工作邀约。摩根大通则 采取了更为严厉的措施，表示将解雇任何在入职18个月内接受外部工作机会的分析师。 摩根士丹利也于今年五月 ...

We're back with final trade. Sat, you get to kick us off. Uh, Morgan Stanley, great earnings.Stock didn't do much. It's digesting. I think the future for Morgan Stanley, especially if you have M&A growth coming, is going to be really good.Weiss Netflix. It was my final trade on Friday. It's my final trade today.Unfairly penalized for the quarter and I still think it's a good opportunity. And tomorrow and the day after and the day after. Not not today though. Amy, not today.Cognex. This is an unloved stock. ...

一纸法案的签署，正在为美国数字资产市场开启新的篇章，并可能重塑传统银行业的未来格局。 据追风交易台消息，美银美林的一份最新研究报告显示，随着美国为稳定币发行铺平监管道路，这一数 字资产将在未来2至3年内，对传统银行的存款基础和支付体系构成清晰可见的颠覆性影响。 报告强调，真正的变革将在中期显现。随着稳定币的整合与普及，其对现有金融体系的冲击将愈发明 显，届时银行将直面来自数字货币的竞争压力。而随着美国稳定币监管框架初步落地，银行业正处于积 极布局与谨慎观望的十字路口。 最新的进展是，美国总统特朗普已正式签署《GENIUS法案》，为稳定币的发行和监管设定了初步框 架。与此同时，旨在划分美国证券交易委员会（SEC）和商品期货交易委员会（CFTC）对加密市场管 辖权的《CLARITY法案》也已在众议院获得通过，目前这两项法案均已移交参议院审议。 这一系列立法进展标志着监管的破冰，市场焦点正迅速从政策博弈转向基础设施的实际建设。 据美银全球研究利率策略团队预测， 短期内稳定币市场将迎来约250亿至750亿美元的温和增长 ，这一 增量资金预计将提振对美国国债的需求，尤其是短期国库券。 管理层目前正在探索数字资产的 四个 ...

July 18, 2025 11:53 PM GMT Key Takeaways If you found value in our work this year – whether through timely analysis or differentiated perspectives – we would sincerely appreciate your support in the Extel Global Fixed Income survey. Please consider voting in the following categories: Your vote helps ensure continued focus on the research that matters most to you. To vote, follow this link: https://www.extelinsights.com/voting/surveys. Thank you in advance for your time, consideration, and continued trust in ...

Morgan Stanley Asia Limited+ Jenny Zheng, CFA Economist Jenny.L.Zheng@morganstanley.com +852 3963-4015 July 17, 2025 03:44 AM GMT Investor Presentation | Asia Pacific M Foundation Stablecoins and RMB Internationalization? A Long Game Related Reports: Stablecoins and RMB Internationalization? A Long Game (19 June 2025) Extel Global Fixed Income Poll is now open. We hope you have enjoyed our research over the past year and appreciate your support. Request your ballot. For analyst certification and other impor ...

摩根士丹利：美国人未来10年多交2.7万亿美元关税 智通财经7月19日电，据央视新闻，近日，多家美国媒体批评美国政府的关税政策其实就是对内加税。 美国《财富》杂志援引摩根士丹利的一份研究报告表示，未来10年，美国政府可能征收高达2.7万亿美 元的关税，这笔钱将由美国消费者支付。《华盛顿邮报》称，关税政策的影响正在显现，美企开始感到 痛苦。《纽约时报》报道，美就业市场正失去动力。 ...

去年11月，瑞银成功试点称为"瑞银数字现金（UBS DigitalCash）"的基于区块链的跨境支付方案。据 悉，试点完成了以美元、瑞士法郎、欧元和人民币进行的跨境支付。此前，瑞银还参与了开发基于瑞士 法郎的央行数字货币（wCBDC）的相关项目。 近日，渣打集团近日宣布将通过其英国分行推出比特币（XBT/USD）和以太币（XET/USD）现货交易 服务，渣打据此成为首家提供这一交易服务的全球系统性重要银行。该行将很快推出无本金交割远期交 易。 据21世纪经济报道记者统计，已有花旗、摩根大通、摩根士丹利、富国、纽约梅隆、瑞银、渣打、德 银、汇丰、法巴、法兴等11家全球系统重要性银行（G-SIBs）在加密货币领域开展实质性布局。 整体来看，华尔街大行的步伐最快。 6月，摩根大通（JPMorgan Chase）宣布推出名为 JPMD 的类稳定币代币。据摩根大通官网介绍，JPMD 只面向该行机构客户，作为一个在结算和支付场景中替代稳定币的方案，但暂不面向零售客户。对于 JPMD与稳定币的差异，摩根大通表示，JPMD具备稳定币支持可编程、点对点交易的特性，但在利息 支付和存款处理方式上有所不同，JPMD可计入客户的银行 ...

Core Insights - Despite elevated interest rates and ongoing trade tensions, the largest U.S. banks continue to report strong financial results [1] - In Q2, the five largest U.S. banks saw a 17% increase in trading revenues and a 7% rise in investment banking revenues compared to the same quarter last year [2] Trading Performance - Volatility in the markets has become a business driver for banks' equities trading desks, with profits dependent on trade volume rather than market direction [3] - Banks have benefited from increased trading activity due to dramatic stock price swings, facilitating trades and collecting fees [4] Diversification and Resilience - The performance of financial services firms highlights the importance of diversification, allowing banks to thrive regardless of high interest rates or economic challenges [5] - Corporate clients remain active in pursuing mergers, issuing debt, and going public despite trade uncertainties, indicating a robust deal-making environment [6] Earnings Highlights - Morgan Stanley reported Q2 2025 earnings per share of $2.13, exceeding estimates and up from $1.82 a year ago, with net revenues of $16.79 billion, a 12% increase [7][8] - Goldman Sachs achieved Q2 EPS of $10.91, surpassing estimates and rising from $8.62 a year ago, with Global Banking and Markets revenues up 24% to $10.1 billion [9] - JPMorgan's quarterly earnings were $4.96 per share, beating estimates and up from $4.4 a year ago, with revenues of $44.91 billion exceeding expectations [10] - Wells Fargo reported adjusted EPS of $1.54, surpassing estimates and up from $1.33 in the prior year, while Citigroup's adjusted net income per share was $1.96, a 28.9% increase year-over-year [11] Investment Opportunities - Financials-based exchange-traded funds (ETFs) are expected to gain traction in light of the strong performance of banks, including iShares U.S. Financial Services ETF and Financial Select Sector SPDR [12]

智通财经7月18日电，摩根士丹利预计英国央行将在9月份维持利率不变，而此前的预测为降息。 ...