Chris Whittall
@chriswhittall.bsky.social
Associate Editor, derivatives and secondary markets, at IFR. Views all mine.
Morgan Stanley Derivatives interview with BlackRock's Rick Rieder "I do a lot of over-writing in equities... I find single name volatility, both sides, is generally a pretty good place to play." www.youtube.com/watch?v=l3L4...
Break the Playbook with Rick Rieder
YouTube video by Morgan Stanley
youtube.com
NEW: Nonbank traders make Wall Street’s old guard up their game Nonbanks are set to grab 30% of the industry revenue pool in global markets this year, says BCG, up from 14% in 2019 "Nonbanks have caused us to get smarter, to integrate... to become nimbler" www.ifre.com/topic-codes/...
Nonbank traders make Wall Street’s old guard up their game | IFR
People & Markets Banks follow trading firms in integrating risk books
ifre.com
NEW: Nonbank traders make Wall Street’s old guard up their game Nonbanks are set to grab 30% of the industry revenue pool in global markets this year, says BCG, up from 14% in 2019 "Nonbanks have caused us to get smarter, to integrate... to become nimbler" www.ifre.com/topic-codes/...
Nonbank traders make Wall Street’s old guard up their game | IFR
People & Markets Banks follow trading firms in integrating risk books
ifre.com
UK Gilts not loving Brent up near $110 Two-year yield approaching 5%
Barclays: Time for caution "AI leaders call for slowing the pace of development, oil has crossed $100, USTs are nearing 5%, and equity seasonals are poor. We think it’s time for caution; a near-term pullback in risk assets is likely."
Citigroup's Kaiser: "We shift to neutral on US equity risk. A potential slowdown in AI model development could crimp EPS revisions...CPI was unfriendly while sharply higher yields + oil were reminders of strong cross-asset headwinds. FOMC poised to hike with stocks sensitive to the # + duration."
Does the House win if the 10yr yield stays below 5%?
Goldman Sachs: "Fixed income demand still resilient despite rising rates" "For most of 2026, investors steadily allocated capital to fixed income... particularly in short-term US government bonds.... Demand for long-duration exposure has [also] remained resilient"
SocGen's Sentiment Indicator back towards late July lows Often a good contrarian signal
Morgan Stanley estimates the Bank of England's quantitative tightening has added 25bp to 10-year Gilt yields and ~70bp to 30-year yields "The impact of balance-sheet reduction has been more pronounced further out the curve, where duration supply matters more and structural demand has faded"
Polls suggesting it'll be a Le Pen-Melenchon run off in next year's French presidential elections unless one of the centrist candidates (either Philippe or Attal) drops out via @europeelects.bsky.social
Goldman Sachs breaks down global rise in government bond yields this summer by inflation swaps/real yields
Morgan Stanley on the low implied volatility across markets despite uncertainty over the macro outlook
From backwater to driving force: Asia emerges as crucial equities trading hub The AI trade has transformed Asia into the fastest-growing part of banks’ equities divisions Bank trading revenues projected to hit US$33bn this year, 2x 2024's total + roughly same as EMEA www.ifre.com/people-and-m...
From backwater to driving force: Asia emerges as equities trading hub | IFR
People & Markets Hedge fund influx strengthens banks' prime and financing activities in the region
ifre.com
Not sure I can handle too many more anecdotes about Leopold Aschenbrenner's wedding www.ft.com/content/ea9c...
Jane Street’s growing pains
The secretive firm may need to change its ways, as its size and risk appetite increase
ft.com
SEC subpoenas Wall Street banks over Situational Awareness www.ft.com/content/c36d...
SEC subpoenas Wall Street banks over Situational Awareness
Leopold Aschenbrenner’s AI-focused hedge fund nearly collapsed in July before striking a deal with Citadel
ft.com
Goldman Sachs: Why US Equity Returns Are Broadening Beyond AI Stocks www.youtube.com/watch?v=_UNI...
Why US Equity Returns Are Broadening Beyond AI Stocks
YouTube video by Goldman Sachs
youtube.com
Nice chart from Matt King at Satori Insights on government debt piles vs maturity profile "Nobody big funds this short"
Andrew Sheets in Morgan Stanley's global fixed income outlook published in early August
Great piece from Toby on how money market funds are helping fuel the boom in bank prime financing/hedge fund leverage bsky.app/profile/toby...
Toby Nangle@tobyn.bsky.social · 4w ago🚨 How money-market funds are providing stock market rocket fuel www.ft.com/content/a079...
Deutsche Bank Rebuilds Energy Trading With String of Hires www.bloomberg.com/news/article...
Deutsche Bank Rebuilds Energy Trading Unit With String of Hires
Deutsche Bank AG is making a major push to rebuild its energy trading business more than a decade after it largely exited the commodities sector.
bloomberg.com
Hamza Lemssouguer’s Arini Hedge Fund Loses 8% in July on Soured Credit Bets www.bloomberg.com/news/article...
Lemssouguer’s Hedge Fund Loses 8% in July on Soured Credit Bets
Hamza Lemssouguer’s Arini Capital Management lost roughly 8% in July on soured credit bets, according to people familiar with the matter.
bloomberg.com
"[Bessent] understands the problem. But understanding the problem and being able to do something material about it are two different things. The Treasury simply can’t control long-term yields" Jim Caron, chief investment officer at Morgan Stanley Investment Management: www.ft.com/content/f01f...
Scott Bessent takes on bond vigilantes in $32tn Treasury market
Wall Street investors say move to buy more long-term US debt is a ‘band-aid on a bullet hole’
ft.com
Quant hedge funds suffer worst day in 2 years as Treasury boosts buyback and Moderna shares leap www.ft.com/content/d3fb...
Quant hedge funds suffer worst day in 2 years as Treasury boosts buyback and Moderna shares leap
Tumultuous session puts further pressure on momentum trades that have been unsettled since AI-related stock sell-off
ft.com
Some measured thoughts from Nellie Liang on the Treasury Twist www.ft.com/content/3d62...
Nellie Liang: ‘Ultimately the goal is to signal that high rates are a concern’
Former Treasury official on what Scott Bessent is up to
ft.com
NEW: Goldman Sachs doubles down on risky rates trading business Large P&L swings have thrust Goldman's rates trading unit into the spotlight this year Our deepdive explores the high-risk approach Goldman takes in its trading division - and why it's here to stay www.ifre.com/topic-codes/...
Goldman Sachs doubles down on risky rates trading business | IFR
People & Markets We go again: hefty March losses won't alter high-risk approach
ifre.com
