Let me be clear: I'm not saying 2009's not going to suck. I'm saying the tide might be getting close to its lowest point. Last week, NYSE Euronext's CEO, Duncan Niederauer, said the IPO market could pick up during the second half. Analysts see M&A ticking up as consolidation takes hold in the energy sector. JPMorgan's Jamie Dimon and Bank of America's Ken Lewis each bought common stock in their companies. All of these are little things and, I suppose, a castaway who sees a break in the clouds is still a castaway. But still.
So, I was struck by this article from InvestmentNews about signs - hints, really - of normalcy returning to the markets. The investment business we're returning to is going to be smaller, and much of its activity, and opportunity, may lie with firms way smaller than Goldman Sachs or JPMorgan. But as momentum returns, these companies are going to start looking around for help.
Wall Street 2.0 [InvestmentNews]
UBS and Wachovia Securities are talking joint venture [NY Post]
What rock were you under not to see the bonus outrage coming? [The Deal]
Ex-UBS Vice Chair Gillespie goes to Evercore [Dealbook]
Tom Krasnewich joins BMO Capital Markets' Industrials practice from Deutsche Bank Securities [Markets Media]
Let's let the SEC guys in on the action [Dealbook]