Matthew Davies

Ooh. Nice. Excellent pub.

Just watched. What a marvelous film. Had never heard of it before that ep of the podcast. Thanks for putting me on to it @wrdface.bsky.social, @roberthutton.co.uk, @duncanweldon.bsky.social

NEW: Societe Generale gains ground in fixed income trading push

SocGen's drive to expand in fixed income starting to bear fruit: spot FX volumes up 70-80% this year

Part of broader push to diversify its trading division beyond structured equity derivatives

www.ifre.com/people-and-m...

Bank trading bonanza continues in second quarter | IFR People & Markets Equities trading powers markets divisions

NEW: Bank trading bonanza continues in second quarter

Banks' trading revenues set to rise 10-15% in Q2, Coalition Greenwich says

Equities trading leading the way again - up 20-25%

Fixed income up 5-10% on the back of strong FX trading results

www.ifre.com/topic-codes/...

Nothing irrational in disliking Forest, but I think we all agreed he got a bit carried away

I used to have a mate who hated Nottingham Forest so much, he stopped going to Derby County games and instead travelled to wherever Forest were playing so he could teach the bemused locals anti-Forest songs. At least, it was clear where he stood

Very much enjoying your podcast, by the way

Nice one. Thanks. Will look into it

I've been wondering about that, James. What did you buy? Any info gratefully received. I wonder if it is possible to have one for, say, the living room and another for a bedroom without having to get rid of the whole gas-based central heating system. Or is that mad?

Fretting over IPO market share is just atavistic mercantilism The central role of equity raisings is to raise capital for companies that are already quoted

Fretting over IPO market share is just atavistic mercantilism - superb Long View column from the ever wise John Plender www.ft.com/content/ae0c...

I'm very much enjoying it, Duncan. Particularly like the swerve halfway through from 'loads of people dying in wars is good actually' to, 'ah, well, perhaps not anymore'

How Goldman Sachs turned financing into a US$9bn powerhouse | IFR People & Markets Heady growth means financing now generates more revenue than investment banking

NEW: How Goldman Sachs turned financing into a $9bn powerhouse

Goldman's financing revenues now outstrip investment banking fees after >doubling since 2020

Profile of how the age-old business of lending money is transforming the investment bank 🧵

www.ifre.com/topic-codes/...

That’s literally the office I work in. And, yes, dreadful place. No decent pubs

Well … Ladybird have let themselves down there. Those are only the third and fourth best seats on a doubledecker. Can’t pretend to be driving if you’re on that side. (Or cover up the driver’s periscope if you’re up to no good)

Top deck, front seat, driver’s side. The only way to travel. 172 to Aldwych

Yeah. I saw. Although the guy who took the photos angrily disputes the way it was written up in the Telegraph. Seems the tennants had already been given notice by Sam Smith's when he was asked to take the photos. Either way, such a shame.

Somewhat surprising declaration of admiration for New Malden from an NYT tech reporter. Must be the Korean food

NEW: Humans + machines join forces in Morgan Stanley’s credit trading revolution

MS has rolled out its bond trading algo across its entire credit franchise

Traders + computers share risk books, balance sheet, P&L - a radical departure for this human-centric business

www.ifre.com/people-and-m...

Enjoyed your proclamation of loyalty to the super rams, Joe (and anti-Forest aside)!

For what it's worth (and this is not my area of expertise), I've just seen an Evergreen container ship (the Ever Lovely) in Hong Kong's East Lamma Channel with zero containers visible. Don't remember ever seeing that before

Do share the response when it comes

My multi-year campaign for IFR flags has finally come to fruition!

NEW: Traders start buying euros as US dollar loses its lustre

Investors are slightly bearish on the US dollar for the first time since October, according to a BNP Paribas market-wide gauge

Sharpest jump ever in euro positioning, according to BofA client survey

www.ifre.com/story/517832...

Credit investors dump US bonds and buy Europe

European credit trading at a premium to the US for the first time in 3 years

US CDS hedging activity at highest levels since Silicon Valley Bank collapse in 2023 👇

www.ifre.com/story/518380...

NEW: Contrarians bet against “sea change” in European bond markets

Some investors have been scooping up European bonds following last week's historic market selloff

"I’m sceptical we will see debt issuance to the extent that’s being talked about"

www.ifre.com/story/517433...

Could be such a lovely pub. What he would have made of £7.60 for a (rubbish) pint of Brain’s doesn’t bear thinking about

Continuing my on-and-off pilgrimage to drink in the great Ian Nairn’s favoured pubs, I’m in the Three Kings on the North End Road. ‘A door is not just a door, any more than a pint of bitter (which is very good here) is just alcohol,’ he wrote. Well. At least there’s still a door.

James Murdoch in Atlantic story (based on some cozy chats): I won't give up stake in family trust because I care about democracy
James Murdoch in NYT story (based on papers submitted to court/evidence under oath): I won't give up stake in family trust unless I'm paid a shitload more money
Hmmm

IPOs on life support

Does private capital represent an existential threat?

www.ifre.com/story/511914...

Upstairs, front seat, driver’s side. The only way to travel. 213 to Kingston