MARKET TALK: Fixed-Income Party Like Its 2009

8th Jun 2010 14:11

9:11 (Dow Jones) The widening of credit spreads will likely rewind the fixed-income trading "movie" in the fall of 2010 that played out for Wall Street firms in 2009, Bernstein's Brad Hintz says. With short-term rates unlikely to rise until 2011, Hintz expects fixed-income, currencies and commodities revenues to remain resilient throughout the year. Goldman Sachs (GS), Morgan Stanley (MS), JPMorgan (JPM) and Barclays (BCS) will benefit most, he says, while GS is most levered to recovery in investment banking market. Schwab (SCHW) and TD Ameritrade (AMTD) remain wagers on rising rates and return of retail investor, he adds. ([email protected]) Call us at (212) 416-2181 or email [email protected] Visit the Market Talk blog at www.djnmarkettalk.com. (END) Dow Jones Newswires June 08, 2010 09:11 ET (13:11 GMT)