Business Insider: Last week, it was reported that Morgan Stanley would ax 1,600 jobs, or about 6 percent of the global institutional securities group, Bloomberg News reports.
The latest round of reductions are expected to begin today and continue into the coming weeks.
According to Bloomberg News, half of those cuts are expected to be here in the U.S.
The bank is also expected to eliminate about 15% of the i-banking positions in Asia, Bloomberg reports.
Meanwhile, Fox Business reports that the Dubai office’s equities division will be hit, too.
Layoffs have been hitting a bunch of the big Wall Street banks.
Last summer, Deutsche Bank said it would eliminate 1,900 jobs with 1,500 of those coming from its investment bank.
Just last month, Citigroup said it would be cutting 11,000 positions globally.
Barclays will cut investment bankers’ bonuses for 2012 in a move that will cut their total pay for the year by up to 20 percent as the British bank’s new boss seeks to tackle high costs, people familiar with the matter said. Barclays is finalizing bonuses for last year and…
Bloomberg: Gross boosts the Pimco Total Return Fund’s Treasury holdingsto highest level since July.
Hoisington Management: Doesn’t think Treasury ratesare headed much higher either.
Learn Bonds: Why Gross especially likes 5-year Treasurys .
Lexology: How the taxpayer relief act of 2012 affects themunicipal-bond market .
Pensions & Investments: BlackRock’s Rick Reider on how monetary policy is profoundly distorting the fixed-income markets.
House Republicans are seriously entertaining dramatic steps, including default or shutting down the government, to force President Barack Obama to finally cut spending by the end of March.
The idea of allowing the country to default by refusing to increase the debt limit is getting more widespread and serious traction among House Republicans than people realize, though GOP leaders think shutting down the government is the much more likely outcome of the spending fights this winter.
Read more at http://investmentwatchblog.com/were-fast-approaching-a-tipping-point-into-a-permanent-financial-decline-the-shrinkage-in-wall-street-is-just-getting-started-bill-gross-boosts-treasury-holdings-more-than-half-of-republic/#0mcGd0fTtbkEAGID.99