Housing may help bank profits, but for the big boys, sluggish doesn't begin to describe the...
Housing may help bank profits, but for the big boys, sluggish doesn't begin to describe the capital markets business. Normally running at 2% of global market cap, equity issuance of late has been more like 1%, says Goldman, which isn't expecting a bounce soon. Expect more layoffs in the sector, says Nomura's Glenn Schorr, as recent headcount reductions haven't even come close to matching the slowdown in business.
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