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NEW YORK, Feb 15 (Reuters) - JPMorgan Chase & Co.'s (JPM.N) head of trading sees China as its largest potential overseas market as the bank aims to expand its international business. "China is by far the biggest opportunity for us," Troy Rohrbaugh, JPMorgan's head of global markets, told investors at a conference. Jamie Dimon, JPMorgan's chief executive officer, told Reuters in an interview last week that he was planning to visit the country. Meanwhile, debt and equity capital markets were faring better than expected despite concerns about an economic slowdown. JPMorgan's fixed-income revenue climbed 12% to $3.7 billion in the fourth quarter, fueled by rising revenue in rates, currencies and emerging markets.

The British lender reported a pretax profit for 2022 of 7 billion pounds ($8.5 billion), down from 8.2 billion pounds the year before and just below the 7.2 billion pounds average analyst forecast, as compiled by the bank. Profits before tax in that division also tumbled by 23% to around 5 billion pounds. In its annual report also published on Wednesday, Barclays said it had docked top executives' pay by a combined 1 million pounds to reflect the regulatory misteps. Barclays' results were further marred by 1.2 billion pounds in credit impairment charges as Britain's economy continued to slow. ($1 = 0.8239 pounds)Reporting By Lawrence White and Iain Withers, editing by Sinead CruiseOur Standards: The Thomson Reuters Trust Principles.

Global markets revenue jumped by about 24% in October-December, the euro zone's biggest bank said on Tuesday, fuelled by a 45% leap in revenue from trading in commodity derivatives, rates, foreign exchange and emerging markets. BNP's 45% sales growth in FICC trading (fixed income, commodities, currencies) compared with 25% growth at peers, analysts at Barclays said. Shares in BNP Paribas (BNPP.PA) were up as much as 4% by 1432 GMT on Tuesday, outperforming the euro zone bank index (.SX7E) and valuing the group at more than 78 billion euros ($83 billion). "These are upward revisions that are quite significant and not so frequent," Bonnafe told reporters in a call. BNP Paribas' net income fell by 6.7% to 2.15 billion euros.

☆ Traders see inflation falling this year - JPMorgan survey
▼ + stars: | 2023-02-01 | by ( Naomi Rovnick | ) www.reuters.com time to read: +2 min

LONDON, Feb 1 (Reuters) - Most traders believe global inflation has peaked, while potential recession has emerged as the main risk to markets this year, according to a survey released on Wednesday. JPMorgan's annual survey of institutional and professional trading clients found that 44% of the 835 respondents predicted inflation will decrease in 2023. "Inflation was the number one concern for the market for quite a while," said Scott Wacker, head of FICC e-commerce sales at JPMorgan. The majority of JPMorgan's survey respondents in Europe, where price rises are running at around 9%, believed inflation rates would decrease. Traders in the U.S., where headline consumer prices rose at a rate of to 6.5% in the year to December, mostly thought inflation would plateau from here, the survey showed.

☆ Wall Street's expectations for AI's influence on markets are skyrocketing, JPMorgan survey says
▼ + stars: | 2023-02-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Amid the recent hype surrounding ChatGPT, Wall Street increasingly anticipates artificial intelligence will change how markets operate. A JPMorgan survey found that 53% of traders believe AI will be the technology with the biggest influence on future trading. To be sure, AI technology has been revolutionizing Wall Street for years. Meanwhile, the hype created by ChatGPT has sent artificial intelligence stocks like Nvidia surging recently. The craze has even sent some obscure small-cap artificial intelligence stocks soaring too.

☆ Analysis: Bond traders get their swagger back in rate-obsessed markets
▼ + stars: | 2023-01-17 | by ( Lananh Nguyen | ) www.reuters.com time to read: +5 min

REUTERS/Andrew KellyNEW YORK, Jan 17 (Reuters) - Bond traders are stars again on Wall Street. Fixed income, currencies and commodities (FICC) traders bolstered bank profits last year despite dreary deal markets. Bond specialists in the $22 trillion Treasuries market are in high demand as the Federal Reserve and other central banks have aggressively raised interest rates over the past two years. After the financial crisis, central bankers in the United States and advanced economies steadied markets by holding interest rates near zero. On Tradeweb Markets Inc's (TW.O) electronic bond trading platforms, average daily volumes rose almost 10% in 2022.

Last year, the industry handed out the biggest awards since 2006 as the economy roared back from the pandemic. It's a head-spinning reversal for dealmakers who racked up record profits for their firms last year and clinched eye-watering payouts for themselves. Compensation for FICC traders will probably rise slightly or stay flat, said Bell at Sheffield Haworth, while stock traders could see a small drop. Worsening economic conditions have already prompted firms including Morgan Stanley (MS.N) and Citigroup Inc (C.N), to trim their workforces. In the United Kingdom, most big firms are discussing and allocating bonuses now, with decisions not usually announced until early next year.

☆ Meet 5 of Goldman Sachs' newest partners, including a top fintech dealmaker and a structured trader from Honduras whose 3 brothers also work on Wall Street
▼ + stars: | 2022-11-09 | by ( Dakin Campbell | Alex Morrell | Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

It also includes a star fintech banker and leading voice on the Black experience on Wall Street. Here are 5 top names who will help shape the Wall Street of tomorrow. In the 12 years that he's been at Goldman, Watkins has helped Goldman advise on some of the technology industry's biggest transactions. He has also been a leading voice in discussing the Black experience on Wall Street. After graduating in 2010, he went to work for the Global Electronic Trading Co., known on Wall Street as GETCO.

☆ Barclays cuts investment banking jobs as deals languish - source
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

Nov 8 (Reuters) - Barclays Plc (BARC.L) has cut its workforce in corporate and investment banking (CIB), according to a person familiar with the matter, joining rivals who also took similar steps to rein in costs as deals plunged from records set last year. As a result, premier banks including Goldman Sachs Group (GS.N) and Deutsche bank (DBKGn.DE) felt compelled to cut their workforce in mergers and acquisitions (M&A). read more read moreCitigroup Inc (C.N) also eliminated dozens of jobs across its investment banking division, Bloomberg News reported on Tuesday. The cuts at Barclays account for less than 3% of their headcount in investment banking, according to the source. Reporting by Mehnaz Yasmin in Bengaluru and Anirban Sen in New York; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

The British bank made a profit before tax of 2 billion pounds ($2.3 billion) in July-September, up from 1.9 billion a year ago and above analyst forecasts. European rival Deutsche Bank said fixed income trading revenues rose 38%. Barclays' advisory fees including merger and acquisitions (M&A) fell 45% in the third quarter to 533 million pounds. Despite the higher loan loss charge - including 381 million pounds taken in the quarter - Barclays' chief financial officer Anna Cross told reporters this had been taken ahead of time. Barclays said the net loss arising from the error over the year to date was 600 million pounds.

The British bank made a profit before tax of 2 billion pounds ($2.3 billion) in July-September, up from 1.9 billion pounds in the same period a year ago and above analysts' average forecast of 1.8 billion pounds compiled by the bank. Income in the fixed income, currencies and commodities business (FICC) doubled to 1.6 billion pounds from a year earlier as volatile markets saw heavy trading by clients. European rival Deutsche Bank saw fixed income trading revenues rise 38%. Barclays said the net loss arising from the error over the year to date was 600 million pounds. Barclays set aside 381 million pounds in the quarter to cover potentially soured loans – topping up its provisions for the year to 722 million – to reflect the deteriorating outlook.

☆ Barclays posts profit beat for the third quarter on strong bond trading revenue
▼ + stars: | 2022-10-26 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

A sign hangs above an entrance to a branch of Barclays Plc bank in the City of London, U.K.LONDON — Barclays on Wednesday reported an unexpected rise in third-quarter earnings on the back of strong trading revenues, despite a continued drag from a costly U.S. trading error. "We delivered another quarter of strong returns, and achieved income growth in each of our three businesses, with a 17% increase in Group income to £6.4 billion," Barclays CEO C.S. Common equity tier one capital (CET1) ratio was 13.8%, compared to 15.4% at the end of the third quarter of 2021 and 13.6% in the previous quarter. Group income including the impact from the over-issuance of securities hit £6 billion, up from £5.5 billion for the same period last year. Barclays shares will begin Wednesday's trading session down almost 20% on the year.

☆ Goldman Sachs' humbling U-turn on its consumer banking ambitions
▼ + stars: | 2022-10-19 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +5 min

Third-quarter results from the big Wall Street banks are now behind us, and they were … pretty good, all things considered? Goldman Sachs reported yesterday, and while it may not be the biggest nor the best bank (OK, No. Trading and dealmaking made the reputation of the 153-year-old Wall Street firm, but the spotlight lately has been on its struggling consumer banking unit, Marcus. The consumer business "doesn't make money at the moment," Solomon acknowledged, but he added: "The deposits are hugely valuable. From Wall Street darlings to prey.

☆ KBW upgrades Goldman Sachs, sees 40% rally in the stock
▼ + stars: | 2022-10-07 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Goldman Sachs is a buying opportunity that can jump 40% from here, according to Keefe, Bruyette & Woods. Analyst David Konrad upgraded shares of Goldman Sachs to outperform from market perform, saying that the the firm's valuation based on tangible book value (TBV) looks attractive. Goldman Sachs has come under pressure this year — with shares down 20.4% — as the firm contended with growing concern over a recession and a dearth of investment banking. Still, the analyst said he specifically approves of the bank's efforts to move private equity assets over to a third party, will help reduce revenue volatility for Goldman Sachs, while also growing its alternatives asset business. KBW raised its price target on the stock to $429 from $395.

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