Investment Banking

Trading at investment banks turns grim

Morgan Stanley and Jefferies gave new details on the depths of the first-quarter problems on March 15

It's still feeling chilly on Wall Street
It's still feeling chilly on Wall Street Photo: iStockPhoto

The calendar may say Wall Street’s busy season is well under way, but for bank traders, it still feels like a chilly December.

"We're clearly not seeing that normal seasonality," Jonathan Pruzan, Morgan Stanley's finance chief, said to explain the lack of the usual first-quarter bump during an investor conference in London.

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Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on ItExternal link

Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on It