Morgan Stanley bond spreads narrowed on Wednesday after the company reported first-quarter earnings fell amid mortgage write-downs yet beating analysts' expectations.
In electronic trading ahead of the opening bell on Wall Street, the stock last traded at $45, up from its close Tuesday of $42.86. At $45, Morgan shares would be at their highest since February 28.
Spreads for Morgan Stanley's 5.375 percent notes due in 2015 narrowed by 10 basis points to 279 basis points, according to MarketAxess data.
Morgan Stanley is one of the world's largest investment banks and global financial services firms, which serves a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley's world headquarters is in New York City, with regional headquarters in London and Hong Kong.
Morgan Stanley is a global financial services firm that, through its subsidiaries and affiliates, provides its products and services to customers, including corporations, governments, financial institutions and individuals. The Company operates in three business segments: Institutional Securities, Global Wealth Management Group, and Asset Management.
Morgan Stanley is a world leader in financial services, offering a wide variety of products and services. A partial list of these products and services includes:
- Investment banking services such as advising, securities underwriting;
- Institutional sales and trading, including both equity and fixed income investments;
- Research services;
- Individual investor services such as private wealth management and financial and estate planning;
- Traditional investments such as mutual funds, unit investment trusts and separately managed accounts;
- Alternative investments such as hedge funds, managed futures, and real estate.
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When the bill was submitted to Congress on August 2, the reason for imposing the new sanctions on Russia was based on Russia's alleged interference in the US presidential election in 2016, but then something clicked