The bonus question

subprime mortgages is not a huge percentage of the mbs market. however, there's no liquidity in the market and no deals are getting done (even the really good ones). plus, conduits and sivs are liquidating assets. it's not a huge percentage of the market but between the leverage investors use to buy fixed income and the exposure to mbs on a bank's balance sheet, it can bring someone down. look what's happening to countrywide? i work in credit and also am hoping i have a job at the end of this. either that or maybe it's time to start that excercise studio, art gallery, or raise horses....

I'm alright Jack. whatever happens my ABN bonus is guaranteed to be at least same as last year.

Bonuses.. haha! what bonuses.. Although some teams have met their budget we will see management making excuses to pay us less. At least up until Analyst 3 level there will not be any miracles (they get paid next July so they might as well pack it in). For others esp. Fixed income (structured products esp.), Leveraged Finance bonuses will not be good. Unless people are fired before bonus day and their share gets apportioned.

To be honest I would be happy just to have a job at the end of it. If there is a tunnel, I am not seeing the light at the end of it.

The first 6 months have been exceptionnaly good and there is still 4 months to come.
I am not sure that bonuses here will fall that much; and I expect them to be higher in some areas...

What planet do you people live on? Structured products exposures are so large banks are going to need to hold onto as much cash as they can. Of course the real stars will get paid, but generally bonuses will be way down.