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Industry Report Card: Securities-Related Businesses Bolster Global Banks? Third-Quarter Performance Nov 09 Product Image

Industry Report Card: Securities-Related Businesses Bolster Global Banks? Third-Quarter Performance Nov 09

  • Published: November 2009
  • Standard & Poors

FEATURED COMPANIES

  • Bank of America Corp.
  • Barclays Bank PLC
  • Citigroup Inc.
  • Credit Suisse AG
  • Deutsche Bank AG
  • JPMorgan Chase & Co.
  • MORE

Abstract
Generally solid earnings of global banks' securities-related businesses, including, variously, their trading, investment banking, asset management, and wealth management activities bolstered third-quarter results (see table 1). In some cases, this helped to stabilize overall profitability–-and credit ratings–-despite the continuing asset-quality pressures at their commercial-banking operations. These businesses are all more or less closely tied to the global equity and debt markets. The operating environment to-date in 2009 has improved markedly since 2008: The S&P 500 is up 18% to-date this year; Investment-grade corporate bond spreads have narrowed by approximately 3.1 percentage points; High-yield bond corporate spreads have reduced by approximately 9.2 percentage points; and Credit markets in general have thawed considerably since the freeze of late last year. Healthier business...

Companies mentioned in this report are:
- Deutsche Bank AG
- Bank of America Corp.
- Barclays Bank PLC
- Morgan Stanley
- JPMorgan Chase & Co.
- Citigroup Inc.
- Credit Suisse AG
- The Goldman Sachs Group Inc.
- UBS AG

Standard and READ MORE >

- Deutsche Bank AG
- Bank of America Corp.
- Barclays Bank PLC
- Morgan Stanley
- JPMorgan Chase & Co.
- Citigroup Inc.
- Credit Suisse AG
- The Goldman Sachs Group Inc.
- UBS AG

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