On Wall Street Trading Desks, This Is What They're Talking About Right Now

trading desk

Good morning.

Dave Lutz of Stifel, Nicolaus sends a long the topic that he is chatting about with clients.

We summarize:

  • Eurozone markets continues to improve.
  • Totally unconfirmed chatter about Spain requesting a bailout.
  • Totally unconfirmed chatter about a Reserve Ratio Requirement cut in China.
  • The EU won the Nobel Prize… is this the moment before the breakup?
  • Greece’s biggest company — Coca Cola Hellenic Bottling — moving HQ to Switzerland.
  • IEA predicts lower oil prices over the next 5 years.
  • Industrial production in the Eurozone beats expectations.
  • Bullish sentiment among traders down three weeks in a row.

And here are some talking points from Michael Block at Phoenix Partners:

  • JPM being taken OK despite core business slowing and NPLs higher. 
  • WFC, not so much.  That can and will probably flip around by the end of the day.
  • Fins led again yesterday – the rest of the sector reports next week – C, BAC, GS, MS, GE, etc.
  • AMD disaster – INTC, GOOG and other tech names report next week.  I am looking for AAPL downgrades as a sign that sentiment is too negative.
  • Spain bailout chatter yet again.  It’s a Friday thing, really.  EU summit next Thursday and Friday.
  • New Yuan Loans weak amid talk that big banks are more risk averse.  Doesn’t matter with the SHCOMP floor at 2000.

For more on what’s happening this morning, see the 10 things you need to know before the opening bell >

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