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Friday, November 27, 2009
Dubai Fallout May Hit Investment Banking Revenues
By Simon Kennedy
MarketWatch Pulse
LONDON -- Analysts at J.P. Morgan said Friday that they are "less concerned for global banks" over their exposure to Dubai World's outstanding debt, but that there is a more significant worry about investment banks due to mark-to-market pricing risks and the potential for lower fixed income revenues in emerging markets. The broker said that in terms of investment-banking risk the most exposed firms are Barclays and Deutsche Bank . "With rates, foreign exchange and credit witnessing record revenues in 2009 and expected to decline in 2010, investment banks were expecting to grow their emerging markets market fixed income revenues, which could be more challenging in this environment," J.P. Morgan said.
Copyright © 2009 MarketWatch, Inc.
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