Morgan Stanley

Citi Warns Trading Revenue To Tumble 15% In Q3 Due To "Subdued Volatility"

Three months after its last such warning, Citi once again advised that its sales and trading revenue in Q3, which is ending in less than three weeks, will be down 15%, as the quarter "is lacking the volatility that pushed revenue higher in third quarter of 2016" underscoring as he did last quarter, that volatility remains “subdued."

Consumption Exhaustion

"Despite policymakers’ lack of regard for this burden, it is important to keep in mind that, as debt accumulates and consumers become less capable of repaying those debts, deleveraging ensues. This means that households will become unable to sustain the lifestyle to which they have become accustomed. Whether debts will be resolved through repayment or default, economic progress will falter."

August Payrolls Preview: Prepare For Disappointment

If there is one common theme across sellside previews of tomorrow's nonfarm payrolls number, expected at 180K after a surprising jump to 209K in July, it is to brace for disappointment, or in Wall Street parlance, "downside risks."

How Much Harvey Damage Can Insurers Face Before They Crack?

It would take $100 billion or more of losses during a 12-month period to seriously threaten insurers’ balance sheets. For context, Hurricane Katrina, the costliest hurricane in US history, caused nearly $50 billion in insured losses in 2016 dollars.