Bloomberg News reports that the credit selloff is so far “limited to specific names" such as Altice NV, analysts led by Kian Abouhossein said in a note to clients. “We would be concerned if there were a more sustained credit selloff."
Revenues from trading fixed income, currencies and commodities are expected to decline 13% in the three months through December versus the same period last year, while banks’ equities businesses may drop 10%, the analysts said. Banks with more exposure to equities will be preferred, they said. Overall, investment banking revenues are expected to rise three percent next year, they said.
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