'January was a strong month, February was strange and March is a bit all over the place'.
Bloomberg News reports that that’s how Credit Suisse CEO Tidjane Thiam on Wednesday described trading conditions as markets seek direction following a sudden return of volatility after a long period of calm. Overall, he said at a London event organized by Bloomberg, the quarter was “very confused.”
Volatility came back with a bang last month, when U.S. stocks had their worst single-day plunge in almost seven years and 10-year Treasury yields reached the highest level in more than four years. While banks including JPMorgan Chase and Citigroup have forecast higher trading revenue for their first quarter, Thiam joined executives at Deutsche Bank in striking a slightly less optimistic tone than just weeks ago.
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