Core Viewpoint - Moelis has expanded its technology M&A franchise by hiring veteran technology banker Timothy Roepke from Jefferies [1] Company Summary - Moelis continues to grow its technology M&A capabilities through strategic hiring [1] - The recruitment of Timothy Roepke indicates Moelis's commitment to enhancing its expertise in the technology sector [1] Industry Summary - The technology M&A sector remains competitive, with firms like Moelis actively seeking experienced professionals to strengthen their positions [1]

You can find original article here Wealthmanagement. Subscribe to our free daily Wealthmanagement newsletter. Marshberry, an Ohio-based M&A consultancy active in the insurance and wealth management sectors, is slated to become part of investment bank and advisory Lincoln International. Chicago-based Lincoln has signed an agreement to acquire MarshBerry to bolster its position in the financial services sector, including insurance brokerage, distribution and wealth management. The deal is subject to regula ...

Core Insights - Zacks Premium provides tools for investors to enhance their stock market engagement and confidence, including daily updates, research reports, and stock screens [1][2]. Zacks Style Scores - Zacks Style Scores rate stocks based on value, growth, and momentum, serving as complementary indicators to the Zacks Rank, helping investors identify securities likely to outperform the market in the short term [2][3]. Value Score - The Value Style Score focuses on identifying undervalued stocks by analyzing financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [3]. Growth Score - The Growth Style Score evaluates stocks based on projected and historical earnings, sales, and cash flow to identify those with sustainable growth potential [4]. Momentum Score - The Momentum Style Score assesses stocks based on price trends and earnings outlook changes, helping investors identify optimal buying opportunities for high-momentum stocks [5]. VGM Score - The VGM Score combines all three Style Scores, providing a comprehensive indicator for selecting stocks with attractive value, strong growth forecasts, and promising momentum [6]. Zacks Rank - The Zacks Rank is a proprietary model that utilizes earnings estimate revisions to simplify portfolio building, with 1 (Strong Buy) stocks achieving an average annual return of +23.75% since 1988, significantly outperforming the S&P 500 [7][8]. Stock to Watch: Evercore (EVR) - Evercore Inc. is a leading independent investment banking advisory firm with a 1 (Strong Buy) Zacks Rank and a VGM Score of B, making it a notable option for momentum investors [11]. - The stock has a Momentum Style Score of A, with a 5.7% increase in share price over the past four weeks [11]. - Recent upward revisions in earnings estimates for fiscal 2025 have raised the Zacks Consensus Estimate by $1.26 to $12.67 per share, with an average earnings surprise of +44.1% [12].

Summary of Morgan Stanley FY Conference Call - September 10, 2025 Company Overview - **Company**: Morgan Stanley (NYSE: MS) - **Speaker**: Dan Simkowitz, Co-President of Morgan Stanley, responsible for the Institutional Securities Group Key Points Overall Market Environment - The current market environment is significantly improved compared to previous periods, particularly post-COVID inflation and tariff volatility [4][5] - There is a notable recovery in capital markets and M&A activities, with a backlog of strategic activities waiting to be addressed [6][10] - The market anticipates six Federal Reserve rate cuts by the end of 2026, indicating a positive outlook without recession concerns [5][6] M&A and IPO Activity - M&A and IPO activities have been below trend lines relative to GDP growth over the past three years, but there is a growing backlog of strategic opportunities [6][11] - The IPO market has shown recovery since late May, with significant deals like Klarna indicating strong market conditions [10][11] - Private equity firms are beginning to monetize their investments, driven by pressure from limited partners [8][9] Wealth Management Growth - Morgan Stanley's wealth management division has expanded from 2.5 million households to 20 million, with $1.6 trillion in assets over the last six quarters [31][32] - The firm maintains a 99% retention rate among advisory clients, indicating strong client loyalty and engagement [32][34] - The growth in younger clients is expected to lead to long-term advisory relationships as their financial needs become more complex [32][33] Investment Management and Alternatives - The investment management business has grown from $400 billion in 2018 to $1.7 trillion, with a significant focus on private markets and alternatives [37][38] - Morgan Stanley is a leading player in private markets, with $250 billion in assets, and is seeing increased demand for customized investment solutions [50][52] Capital Deployment and Regulatory Environment - The regulatory environment is becoming more favorable, allowing for greater capital deployment and investment in growth areas such as wealth management and corporate financing [42][44] - Morgan Stanley plans to leverage its bank more effectively, increasing loans from $115 billion to $250 billion and deposits from $190 billion to nearly $400 billion over the past six years [27][28] Integrated Firm Strategy - The integration of various business units is a key focus, enhancing synergies across wealth management, investment banking, and asset management [55][56] - The firm aims to be a holistic partner for clients, providing comprehensive services that span from corporate finance to individual wealth management [58][59] Future Outlook - The firm is optimistic about the long-term growth opportunities in wealth management and the overall financial services sector, with a focus on innovation and client-centric strategies [45][46] - There is a strong belief that the current market dynamics will lead to a multi-year recovery in M&A and IPO activities, with significant capital available for deployment [11][12] Additional Insights - The firm is experiencing a shift in credit markets, with a growing emphasis on active management and innovative credit solutions [41][52] - The integration of technology and digital platforms, such as E*TRADE, is enhancing client engagement and service delivery [29][35] This summary encapsulates the key insights and strategic directions discussed during the Morgan Stanley FY Conference Call, highlighting the firm's positive outlook and growth strategies in a recovering market environment.

David Amaryan, the former hedge fund manager who bought Goldman Sachs’ business in Russia, is expanding into the Middle East https://t.co/QHKQ8rc2Mu ...

CONCLUDED Stock Market News From Sept. 9, 2025: Dow, S&P 500 and Nasdaq All Hit Records Last Updated: The big three indexes all hit closing highs on the same day for the first time this year on Tuesday after Wall Street looked past the latest sign the labor market has been weaker than previously thought. The Dow Jones Industrial Average rose 197 points, or 0.4%. The S&P 500 was up 0.3%. The Nasdaq Composite was up 0.4%. The Dow, with a big boost from UnitedHealth and Goldman Sachs this afternoon, marked its ...

Group 1 - Goldman Sachs plans to invest up to $1 billion in T. Rowe Price stock to acquire up to 3.5% of shares, aiming to enhance access to private markets for clients [1][2] - The partnership will provide wealth and retirement products, including target-date strategies, model portfolios, and multi-asset products, specifically designed for mass affluent and high-net-worth clients [2][3] - The collaboration reflects a trend among asset managers to tap into the growing demand for private market investments among retail investors, particularly in light of regulatory changes that facilitate access to alternatives [3][4] Group 2 - The demand for private assets is increasing among retail investors, with alternatives being seen as suitable for 401(k) accounts due to their long time horizons and tax advantages [4] - Other notable partnerships in the industry include Blackstone, Vanguard, and Wellington launching an interval fund, and Capital Group and KKR creating public-private credit funds targeting retail investors [5]

Summary of Key Points from the Conference Call Industry Overview - The report provides insights into various asset classes including equities, fixed income, currencies, and commodities, with a focus on market sentiment and positioning as of September 2025. Core Insights and Arguments 1. **Equity Market Forecasts**: - S&P 500 is forecasted to return 1.5% in the base case, with a bear case return of -23.2% and a bull case return of 12.3% [3] - MSCI Europe shows a similar trend with a base case return of 5.6% and a bear case of -23.5% [3] - Emerging Markets (MSCI EM) are projected to have a bear case return of -29.3% and a base case of -3.5% [3] 2. **Fixed Income Insights**: - UST 10-year yields are at 4.08%, with a forecasted base case return of 9.7% [3] - UK 30-year bond yields have risen to their highest levels since 1998, indicating a significant shift in the fixed income landscape [7][17] 3. **Commodity Performance**: - Gold has surpassed $3,500 for the first time, reflecting strong demand amidst market volatility [19] - Brent crude oil is forecasted to have a bear case return of -22.6% and a bull case return of 85.9% [3] 4. **Market Sentiment and Positioning**: - The Market Sentiment Indicator (MSI) aggregates survey positioning, volatility, and momentum data, indicating a mixed sentiment across different asset classes [60] - The report highlights a divergence in volatility between US stock and bond markets, with the VIX-MOVE ratio near its lowest since February [7][11] 5. **ETF Flows**: - Recent data shows a significant outflow from US equities, with a net flow of -0.1 billion over the past week, while bonds saw inflows of 13.8 billion [42] Other Important Insights 1. **Brazilian Equities**: - Brazilian equities have reached a new all-time high, indicating strong performance in the Latin American market [10] 2. **Cross-Asset Correlations**: - The report discusses the current correlation indices, noting that equity and credit correlations are at 79%, indicating a strong relationship between these asset classes [76] 3. **COVA Framework**: - The Cross-Asset Correlation-Valuation Framework (COVA) identifies good portfolio diversifiers, emphasizing the importance of correlation and valuation in investment decisions [83] 4. **Extreme Market Moves**: - The report tracks significant market moves, highlighting the largest weekly changes in various asset classes, which can indicate potential volatility and investment opportunities [93] 5. **Analyst Disclosures**: - The report includes disclaimers regarding potential conflicts of interest and the objectivity of Morgan Stanley Research, urging investors to consider this information as one of many factors in their investment decisions [5][6] This summary encapsulates the key points from the conference call, providing a comprehensive overview of the current market landscape and investment outlook.

Summary of Key Points from the Conference Call on Stablecoins and Financial System Implications Industry Overview - The discussion centers around the impact of payment stablecoins on the US financial system, particularly their implications for the demand and issuance of US Treasuries [2][3]. Core Insights and Arguments 1. **Impact on Bank Deposits and Treasuries Demand** - Widespread migration from bank deposits to stablecoins could boost Treasuries demand but may reduce the banking sector's footprint [2][3]. - The initial impact on aggregate deposits may be neutral, but over time, growth in stablecoins could lead to more expensive bank funding and a smaller bank balance sheet [2][3]. 2. **Foreign Demand for Stablecoins** - Foreign demand for stablecoins, particularly from those seeking USD exposure, is a significant area of focus. This demand could lead to increased demand for US Treasuries [2][19]. - The Federal Reserve estimates that foreigners hold about $1 trillion of physical USD cash, which could be converted into stablecoins, potentially increasing Treasuries demand in the short term [19][23]. 3. **Mechanics of Deposit Migration** - The migration of deposits to stablecoins may not lead to a net decrease in system-wide deposits initially, as outflows from one bank could become inflows to another [4][5]. - However, this shift could create a yield disadvantage for traditional depositors, prompting them to seek higher returns elsewhere, which may increase demand for USTs [6][7]. 4. **Heterogeneity Among Banks** - The uneven distribution of reserves among banks could lead to liquidity challenges, especially for smaller banks that are more reliant on deposit funding [14][15]. - Banks with concentrated deposit bases may face greater risks during periods of deposit outflows, which could lead to asset liquidation or more expensive funding sources [15][16]. 5. **Regulatory Considerations** - The potential for stablecoins to compete with bank deposits introduces additional risks for banks in managing liquidity, particularly during times of stress [16]. - Foreign governments may impose regulatory barriers if stablecoin demand leads to significant capital flows that pressure exchange rates [21][22]. Other Important Considerations - The demand for USD stablecoins from foreign investors could arise from various sources, including conversions from physical cash or traditional USD assets [19][20]. - The long-term implications of stablecoin adoption on the Federal Reserve's balance sheet and overall monetary policy remain uncertain [19][20]. This summary encapsulates the key points discussed in the conference call regarding the implications of stablecoins on the financial system and the demand for US Treasuries, highlighting both opportunities and risks associated with their adoption.

Summary of Key Points from the Conference Call Industry Overview - The report focuses on China's trade performance in August, highlighting a moderation in trade growth compared to previous months [1][5][9]. Core Insights and Arguments 1. **Trade Growth Moderation**: - China's exports increased by 4.4% year-over-year (yoy) in August, down from 7.2% in July. Imports rose by only 1.3% yoy, compared to 4.1% in July [2][9]. - Sequentially, exports decreased by 1.0% seasonally adjusted (sa) non-annualized in August, while imports fell by 2.0% sa non-annualized [9]. 2. **Trade Surplus**: - The trade surplus for August was reported at US$102.3 billion, an increase from US$98.2 billion in July [3][9]. 3. **Regional Export Performance**: - Exports to the EU and ASEAN showed growth, while exports to the US, Latin America (LatAm), and Africa declined. Notably, exports to the US fell by 33.1% yoy in August [10][11]. 4. **Import Trends**: - Imports from the US decreased by 16.0% yoy in August, while imports from the EU fell by 1.8% yoy. Overall, imports from major trading partners declined sequentially [10][12]. 5. **Product Category Insights**: - Exports of tech-related products, such as chips and automobiles, saw significant growth, with chip exports rising by 32.8% yoy. However, exports of metals and textiles declined [11]. - Import values for automobiles dropped sharply by 50.5% yoy, while agricultural product imports increased [12]. Additional Important Information - The report indicates that fewer working days in August likely contributed to the overall moderation in trade growth across major trading partners [1]. - The detailed breakdown of trade by country and product is expected to be released on September 20 [9]. - The report emphasizes that the data only covers major trading partners and products, suggesting a limited scope for the analysis presented [9][14]. This summary encapsulates the key findings and insights from the conference call regarding China's trade performance in August, highlighting both the challenges and areas of growth within the trade landscape.