Europe

  • None for you

    News

    European Regulator Bans Bonuses In Fixed Income Clothes, Asks Banks If It Looks Stupid

    Nice try attempting to pay employees bonuses while calling them “role-based allowances,” “role-based payments,” “a little something extra for your trouble,” etc, but the European Banking Authority is on to you.

    / Oct 15, 2014 at 2:58 PM
  • Hedge Funds

    Local Superhero Ready To Fix Europe

    Europe’s leaders, adopting a money begets money approach, are looking to conjure a few billion dollars to juice up the continent’s economy. Perhaps they should give Cliff Asness a call. He’s always happy to weigh in on such things.

    / Sep 15, 2014 at 6:35 PM
  • I don't know why but I love this picture

    News

    Pay Hike Watch ’14: It’s A Swell Time To Be A Junior Banker (Unless You Work In Europe)

    …in which case, better luck next time.

    / Aug 22, 2014 at 12:14 PM
  • lloydblankfeingarycohn

    News

    Role-Based Pay Watch ’14: Goldman Sachs

    Goldman Europe sees your bonus caps and raises you this:

    / Jan 17, 2014 at 12:28 PM
  • News

    Europeans Near Resolution To Semantic Debate

    Six years and countless working lunches after the financial crisis began, European regulators have at last nearly come to grips with one of its root causes.

    / Oct 22, 2013 at 6:08 PM
  • News

    Europeans Embrace Dark Pools While They Can

    The menace spreads.

    / Aug 13, 2013 at 12:47 PM
  • You have underestimated me for the last time.

    News

    Apparently Some People Pay Attention To Ratings Agencies

    Would you have predicted this? This paper investigates the impact of credit rating changes on the sovereign spreads in the European Union and investigates the macro and financial factors that account for the time varying effects of a given credit rating change. We find that changes of ratings are informative, economically important and highly statistically […]

    / Jun 17, 2013 at 9:41 AM
  • News

    German Central Bank Chief Hopes You’re Not Banking On That European Recovery Any Time Soon

    Bundesbank President Jens Weidmann does not mean to alarm you, but he thinks that Europe’s, um, difficulties could take a while to resolve.

    / Apr 17, 2013 at 3:37 PM
  • News

    IMF: Europe Is Still Ruining Everything For Everybody

    Perhaps it would like to do something about that?

    / Apr 16, 2013 at 4:48 PM
  • No line!

    News

    Cyprus Finds Exciting New Way To Make Everyone Miserable

    Things in Cyprus: kinda bad. There are better places than here to read about it; I particularly recommend Joseph Cotterill here and here, pseudo-Paweł Morski here and here, Mohammed El-Erian here, the FT’s coverage here and here, the Journal’s round-up of analyst reaction here, etc. The basic story is that Cyprus’s government and banks are […]

    / Mar 18, 2013 at 9:27 AM
  • Deustche Bank, HSBC

    Deutsche Bank Sinks Right Past HSBC

    Getting caught money-laundering for the Iranians and drug cartels is pretty bad for business, as HSBC’s 2012 results demonstrate. But coming into compliance with all these new banking regulations is even worse.

    / Mar 4, 2013 at 5:44 PM
  • Honestly she has nothing to do with this at all, but she's (1) European and (2) kind of fun to look at.

    News

    On The Bright Side, European Banking Bonuses May Be A Lot More Predictable

    It’s probably good news that “European Union finance ministers reached a landmark deal early Thursday that would bring many of the continent’s banks under a single supervisor,” but of course it wouldn’t be Europe without some self-evidently bad ideas for financial regulation, so today we also get this: Bankers’ bonuses in Europe would be capped […]

    / Dec 13, 2012 at 1:26 PM
  • cows, possibly European

    News

    EFSF Conveniently Downgraded

    Here are two tiny little puzzles about Moody’s’s’s downgrade of the European Financial Stability Facility from Aaa to Aa1 just now. But first, here is some math on EFSF guarantees; basically every €100 of EFSF bonds has €165 of member guarantees, of which €103ish were Aaa-rated and €62ish were not. Until Moody’s downgraded France last […]

    / Nov 30, 2012 at 6:17 PM
  • News

    Europe’s Short Sale Ban May Be Slightly Less Terrible Than They Want You To Think

    Europe is doing various terrible things about short selling today, and go talk about them in the comments, but this whole thing is really boring isn’t it? It’s like the “price gouging is grrreat” arguments that spring up like weeds after natural disasters;1 there’s the thing that politicians do to Convey Emotion and then we […]

    / Nov 1, 2012 at 6:42 PM
  • News

    Layoffs Watch ’12: UBS

    UBS is said to be embarking on a “fresh round of cuts” in the investment bank, starting with the team in Europe.

    UBS, Switzerland’s biggest bank, plans to cut about 80 to 90 jobs in its European investment- banking division as part of a global revamp, according to two people familiar with the matter. The cutbacks, which are likely to take place before year- end, would amount to about 17 percent of staff within the region’s investment-banking division and include junior and senior bankers, said the people, who asked not to be identified because the plans are private. The division includes merger advisory and equity and debt capital markets. The reductions probably will kick off a fresh round of job cuts within the broader investment bank, which includes UBS’s fixed-income and equities units, said the people.

    [Bloomberg]

    / Sep 18, 2012 at 6:38 PM
  • That would have been a better program.

    News

    ECB Announces Unlimited Bond Buying, Will Fill In Limits Later

    Every time I talk about Europe I begin by saying “Europe is all better,” because Europe these days operates on big-bang fixes followed by long slow decays, repeated indefinitely, so I guess you should sell the news and buy the quiet. Anyway, Europe is all better, since Mario Draghi announced today that the ECB will […]

    / Sep 6, 2012 at 2:33 PM
  • We've talked before about how I own these cufflinks. Two notable events where I failed to wear them: (1) CFA Level I exam, (2) the time I quit Goldman Sachs.

    News

    Sometimes Companies Buy Low And Sell High

    I liked that the two top articles in Money & Investing in the Journal today were (1) that European banks are buying bonds, and that’s bad, and (2) that American corporates are selling bonds, and that’s bad. And: probably! The European banks are behaving sensibly: With the European crisis knocking down the value of banks’ […]

    / Aug 13, 2012 at 6:02 PM
  • We don't have enough Angela Merkel around these parts.

    News

    A Euroblather Arbitrage

    No human can realistically be expected to understand or focus on the constant stream of Eurozone gyrations and in fact humans increasingly don’t, with the half-life of blather-driven euphoria declining rapidly. The latest gyration seems to be that Germany is contemplating letting the Eurozone collective rescue funds think about maybe one day putting up for […]

    / Jun 20, 2012 at 12:49 PM

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