"I only had a starter, and Macron had three cocktails, I don't see why we can't just each pay for what we ordered".

Barclays' investment bank blew past its targets, but not in the manner intended It's going great at Barclays, as long as you ignore the plan.

Fine times at Barclays, if you ignore the plan www.efinancialcareers.co.uk/news/barclay...

Hedge fund Millennium hired an MD tired of trading rates in banks Deal contingents are where it's at now.

Hedge funds are hiring people to trade the risk that M&A deals don't happen www.efinancialcareers.co.uk/news/hedge-f...

If you're still at Goldman Sachs now, your job should be safe for a few months The cuts are done.

It's ok. Goldman Sachs' job cuts have occurred www.efinancialcareers.co.uk/news/if-you-...

Morning Coffee: Morgan Stanley MD accused of inappropriate remarks retains banks' nemesis. Hedge fund keeps paying for loss-making PMs How to make $10m when a bank fires you.

The art of making money when you lose your banking job www.efinancialcareers.co.uk/news/kow-att...

Nomura's prime brokerage plans and hokey cokey jobs In out, in out and shake it all about.

Nomura is shaking it about again. www.efinancialcareers.co.uk/news/nomura-...

The recent spike in 10-year Treasury yield (white) coincided with China fixing the Yuan weaker (orange), which is no coincidence. The falling Yuan had contagion effects to all of EM, causing EM reserve managers to sell Treasuries. This shows how much power China has over US markets ... and policy...

Holocaust There are no more words.

New Coppola Comment post, on Gaza's holocaust. I make no apology for the inflammatory headline. There is more than one holocaust. open.substack.com/pub/coppolac...

Hedge fund Millennium is welcoming 190 interns this summer. 50,000 people applied It's not easy to get a Millennium internship either.

If you happen to want a graduate job at one of the big hedge funds, you'll have to fight off 250+ other people who want the same thing www.efinancialcareers.co.uk/news/millenn...

Morning Coffee: Ex-JP Morgan trader found 25% of colleagues at new job inadequate. Citi’s cheap junior bankers are relocating to London When the new boss has higher standards.

When the new boss has higher standards than the old ones www.efinancialcareers.co.uk/news/christo...

Morning Coffee: Jamie Dimon discloses curious intention for life after JPMorgan. Where human traders are a necessity, and not Jamie Dimon wants to do something a bit different when he leaves JPMorgan.

Jamie Dimon has these cryptic plans www.efinancialcareers.co.uk/news/jamie-d...

Citi's M&A bankers are thriving with no permanent leader Citi's temporary arrangement seems to be going just fine.

Maybe it's ok for no one to be in charge long term www.efinancialcareers.co.uk/news/citi-s-...

That's good. My dog got lost for nearly two days and it was awful

As cuts loom at UBS, Credit Suisse veterans are doing fine on generous pensions Some ex-Credit Suisse people are thriving.

Reasons to grumble at UBS

My cycling clubmates dog was last seencin mildmay heading to cannonbury. she bolted from sitter in london fields park last night. Brindle whippet wearing dark pink collar £ green harness. timid to approach so would need to come naturally to some subtle treats. Please report sightings! name is Ash.

Morning Coffee: JPMorgan's most patient man says now's the time. Hedge fund intern had Tom Ford silk underwear The art of self-restraint.

A man who would not impulse buy designer silk underwear www.efinancialcareers.co.uk/news/bill-ei...

Citi's ex-head of global credit strategy thinks a financial crisis is coming He called it right in 2008.

Shooting from the sidelines www.efinancialcareers.co.uk/news/matt-ki...

Experienced traders offer advice to exhausted juniors: "Burnout? It's been four days!" What if it's only just begun?

How to cope, or not, in times of chaos. www.efinancialcareers.co.uk/news/experie...

The ex-head of Deutsche Bank in America wants you in the wild What happens when you leave the desk.

Wilderness rituals for bankers www.efinancialcareers.co.uk/news/deutsch...

JPMorgan confirms bankers are working hard, for fewer fees Damn it does not feel good to be a banker.

Damn it does not feel good to be an investment banker www.efinancialcareers.co.uk/news/jp-morg...

Top portfolio manager wisely disappeared from London hedge fund in February One of ExodusPoint's top London portfolio managers left.

Does not have the same ring as going away in May www.efinancialcareers.co.uk/news/top-por...

Morning Coffee: Citi exec sleeping 3 hours a night; Goldman CEO stuck in a hotel room. JPMorgan's 'great thinker' is diminished Spare a thought for the senior leadership.

Spare a thought for the senior leadership www.efinancialcareers.co.uk/news/bank-ex...

As portfolio managers leave Eisler Capital, contemplation of bonus clawbacks Eisler Capital's portfolio managers are leaving despite its clawback policy.

Having a bonus clawed back at Eisler is not a big deal it seems www.efinancialcareers.com/news/as-port...

the way in which the US economic system seems to kill people who can't cope with it is a genuine public health emergency, but the rate at which it seems to kill people who are by any reasonable criterion succeeding is also a serious policy issue

Morning Coffee: 48 year-old MD thrives on protein bars and wine. BlackRock’s CEO would like to retire but can’t How to stay healthy when you're on the road three days a week.

Dietary regime of the road warrior www.efinancialcareers.co.uk/news/banking...

JPMorgan's London credit salespeople are disappearing into the sunset People are riding off now that bonuses are in the bank.

Credit traders galloping off at JPMorgan www.efinancialcareers.co.uk/news/jp-morg...

UBS bankers want a voluntary redundancy program as revenues plummet Some at UBS would quite like to walk away.

A bad vibe at UBS! www.efinancialcareers.com/news/ubs-ban...

Moreover, it is critical not just for fairness, but for capacity. We are under siege by hostile adversaries trying to erode our manufacturing and defense industrial base and disrupt our financial system; we will be able to provide neither defense nor reserve assets if our manufacturing capacity is hollowed out. The President has been clear that the United States is committed to remaining the reserve provider, but that the system must be made fairer. We need to rebuild our industries to project the strength needed to protect reserve status, and we need to be able to pay our bills to do so. What forms can that burden sharing take? There are many options, here are a few ideas: First, other countries can accept tariffs on their exports to the United States without retaliation, providing revenue to the U.S. Treasury to finance public goods provision. Critically, retaliation will exacerbate rather than improve the distribution of burdens and make it even more difficult for us to finance global public goods. Second, they can stop unfair and harmful trading practices by opening their markets and buying more from America; Third, they can boost defense spending and procurement from the U.S., buying more U.S.-made goods, and taking strain off our servicemembers and creating jobs here; Fourth, they can invest in and install factories in America. They won’t face tariffs if they make their stuff in this country; Fifth, they could simply write checks to Treasury that help us finance global public goods. Tariffs deserve some extra attention. Most economists and some investors dismiss tariffs as counterproductive at best and devastatingly harmful at worst. They’re wrong. One reason the economic consensus on tariffs is so wrong is because nearly all of the models that economists use to study international trade assume either no trade deficits at all, or assume that deficits are short-lived and quickly self-correct through currency adjustments. According to standard model…

New statement from CEA Chair Stephen Miran, whose work people used to drum up the "Mar-A-Lago Accord" idea.

This is deeply unhinged stuff. Of the ideas presented, one (1) is helpful to rebalance the global economy (more defense spending by other countries).

www.whitehouse.gov/briefings-st...

Mad King latest.

The plot twist is higher rates this morning - 10 yr back > 4%