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Off the record

"Oh shit!"
The response of a Deutsche DCM banker when told that the date of his bank’s forthcoming press party clashed with the European Champion’s League final

"I query the party line that everyone is taking these days about liking volatility – what I want are wider bid-offer spreads and nicely trending markets!"

A head of fixed income tells it like it is

"Egos, pay packets and jobs never shrink – it’s the first law of investment banking"
A cynical (or jealous?) banker questions the wisdom of seeking out promotion

"It’s the same in any language: ‘le spread’, ‘le basis point’, ‘les zero fees’"
A DCM banker explains why only a rudimentary understanding of French is necessary when trying to win mandates from French issuers

"Triple-B CRE CDO notes fall somewhere between financial toxic waste and a practical joke"

One commercial real estate investor does not mince his words on the risk profile of one particular CDO asset class