Matthew Davies
@matthewjdavies.bsky.social
Editor of IFR. Man v Fat five-a-side incompetent, ale-supper, cyclist, Derby County sufferer, man of the hills, undercover Welshman
Reposted by Matthew Davies
The definitive account of the First Brands collapse
helluva piece of work 👏👏👏
www.ft.com/content/8373...
helluva piece of work 👏👏👏
www.ft.com/content/8373...
The secretive First Brands founder, his $12bn debt and the future of private credit
Patrick James borrowed billions — even after presiding over a string of failed businesses
www.ft.com
October 15, 2025 at 3:19 PM
The definitive account of the First Brands collapse
helluva piece of work 👏👏👏
www.ft.com/content/8373...
helluva piece of work 👏👏👏
www.ft.com/content/8373...
Reposted by Matthew Davies
NEW: Banks ride gold rush trading bonanza
Banks' precious metals trading revenues were up >60% to over $1bn in H1, says Coalition Greenwich
On track for their best year in over a decade
“This is the most interest and enthusiasm for gold I’ve seen in my entire career"
www.ifre.com/topic-codes/...
Banks' precious metals trading revenues were up >60% to over $1bn in H1, says Coalition Greenwich
On track for their best year in over a decade
“This is the most interest and enthusiasm for gold I’ve seen in my entire career"
www.ifre.com/topic-codes/...
Banks ride gold rush trading bonanza | IFR
People & Markets
“The most interest and enthusiasm for gold I’ve seen in my entire career”
www.ifre.com
September 29, 2025 at 9:27 AM
NEW: Banks ride gold rush trading bonanza
Banks' precious metals trading revenues were up >60% to over $1bn in H1, says Coalition Greenwich
On track for their best year in over a decade
“This is the most interest and enthusiasm for gold I’ve seen in my entire career"
www.ifre.com/topic-codes/...
Banks' precious metals trading revenues were up >60% to over $1bn in H1, says Coalition Greenwich
On track for their best year in over a decade
“This is the most interest and enthusiasm for gold I’ve seen in my entire career"
www.ifre.com/topic-codes/...
Reposted by Matthew Davies
Happy Derbyshire Day. The flag of Derbyshire is flying in New Palace Yard today to mark this historic county day.
Did you know that Derbyshire has featured in the official titles of more than 200 Commons debates?
Did you know that Derbyshire has featured in the official titles of more than 200 Commons debates?
September 22, 2025 at 1:29 PM
Happy Derbyshire Day. The flag of Derbyshire is flying in New Palace Yard today to mark this historic county day.
Did you know that Derbyshire has featured in the official titles of more than 200 Commons debates?
Did you know that Derbyshire has featured in the official titles of more than 200 Commons debates?
Top deck 😀, front seat 😁, non-drivers side 🙄. *Nearly* the best way to travel. 213 to Kingston
September 7, 2025 at 3:40 PM
Top deck 😀, front seat 😁, non-drivers side 🙄. *Nearly* the best way to travel. 213 to Kingston
Reposted by Matthew Davies
NEW: Societe Generale gains ground in fixed income trading push
SocGen's drive to expand in fixed income starting to bear fruit: spot FX volumes up 70-80% this year
Part of broader push to diversify its trading division beyond structured equity derivatives
www.ifre.com/people-and-m...
SocGen's drive to expand in fixed income starting to bear fruit: spot FX volumes up 70-80% this year
Part of broader push to diversify its trading division beyond structured equity derivatives
www.ifre.com/people-and-m...
July 7, 2025 at 1:38 PM
NEW: Societe Generale gains ground in fixed income trading push
SocGen's drive to expand in fixed income starting to bear fruit: spot FX volumes up 70-80% this year
Part of broader push to diversify its trading division beyond structured equity derivatives
www.ifre.com/people-and-m...
SocGen's drive to expand in fixed income starting to bear fruit: spot FX volumes up 70-80% this year
Part of broader push to diversify its trading division beyond structured equity derivatives
www.ifre.com/people-and-m...
Reposted by Matthew Davies
NEW: Bank trading bonanza continues in second quarter
Banks' trading revenues set to rise 10-15% in Q2, Coalition Greenwich says
Equities trading leading the way again - up 20-25%
Fixed income up 5-10% on the back of strong FX trading results
www.ifre.com/topic-codes/...
Banks' trading revenues set to rise 10-15% in Q2, Coalition Greenwich says
Equities trading leading the way again - up 20-25%
Fixed income up 5-10% on the back of strong FX trading results
www.ifre.com/topic-codes/...
Bank trading bonanza continues in second quarter | IFR
People & Markets
Equities trading powers markets divisions
www.ifre.com
July 7, 2025 at 1:26 PM
NEW: Bank trading bonanza continues in second quarter
Banks' trading revenues set to rise 10-15% in Q2, Coalition Greenwich says
Equities trading leading the way again - up 20-25%
Fixed income up 5-10% on the back of strong FX trading results
www.ifre.com/topic-codes/...
Banks' trading revenues set to rise 10-15% in Q2, Coalition Greenwich says
Equities trading leading the way again - up 20-25%
Fixed income up 5-10% on the back of strong FX trading results
www.ifre.com/topic-codes/...
Reposted by Matthew Davies
Fretting over IPO market share is just atavistic mercantilism - superb Long View column from the ever wise John Plender www.ft.com/content/ae0c...
Fretting over IPO market share is just atavistic mercantilism
The central role of equity raisings is to raise capital for companies that are already quoted
www.ft.com
June 14, 2025 at 9:08 AM
Fretting over IPO market share is just atavistic mercantilism - superb Long View column from the ever wise John Plender www.ft.com/content/ae0c...
Reposted by Matthew Davies
NEW: How Goldman Sachs turned financing into a $9bn powerhouse
Goldman's financing revenues now outstrip investment banking fees after >doubling since 2020
Profile of how the age-old business of lending money is transforming the investment bank 🧵
www.ifre.com/topic-codes/...
Goldman's financing revenues now outstrip investment banking fees after >doubling since 2020
Profile of how the age-old business of lending money is transforming the investment bank 🧵
www.ifre.com/topic-codes/...
How Goldman Sachs turned financing into a US$9bn powerhouse | IFR
People & Markets
Heady growth means financing now generates more revenue than investment banking
www.ifre.com
June 9, 2025 at 10:47 AM
NEW: How Goldman Sachs turned financing into a $9bn powerhouse
Goldman's financing revenues now outstrip investment banking fees after >doubling since 2020
Profile of how the age-old business of lending money is transforming the investment bank 🧵
www.ifre.com/topic-codes/...
Goldman's financing revenues now outstrip investment banking fees after >doubling since 2020
Profile of how the age-old business of lending money is transforming the investment bank 🧵
www.ifre.com/topic-codes/...
Top deck, front seat, driver’s side. The only way to travel. 172 to Aldwych
June 2, 2025 at 4:09 PM
Top deck, front seat, driver’s side. The only way to travel. 172 to Aldwych
Somewhat surprising declaration of admiration for New Malden from an NYT tech reporter. Must be the Korean food
I luv KT3
May 25, 2025 at 4:12 PM
Somewhat surprising declaration of admiration for New Malden from an NYT tech reporter. Must be the Korean food
Reposted by Matthew Davies
NEW: Humans + machines join forces in Morgan Stanley’s credit trading revolution
MS has rolled out its bond trading algo across its entire credit franchise
Traders + computers share risk books, balance sheet, P&L - a radical departure for this human-centric business
www.ifre.com/people-and-m...
MS has rolled out its bond trading algo across its entire credit franchise
Traders + computers share risk books, balance sheet, P&L - a radical departure for this human-centric business
www.ifre.com/people-and-m...
May 12, 2025 at 8:10 AM
NEW: Humans + machines join forces in Morgan Stanley’s credit trading revolution
MS has rolled out its bond trading algo across its entire credit franchise
Traders + computers share risk books, balance sheet, P&L - a radical departure for this human-centric business
www.ifre.com/people-and-m...
MS has rolled out its bond trading algo across its entire credit franchise
Traders + computers share risk books, balance sheet, P&L - a radical departure for this human-centric business
www.ifre.com/people-and-m...
For what it's worth (and this is not my area of expertise), I've just seen an Evergreen container ship (the Ever Lovely) in Hong Kong's East Lamma Channel with zero containers visible. Don't remember ever seeing that before
The freight guys have really started freaking out over the past 48-72 hours:
April 18, 2025 at 4:23 AM
For what it's worth (and this is not my area of expertise), I've just seen an Evergreen container ship (the Ever Lovely) in Hong Kong's East Lamma Channel with zero containers visible. Don't remember ever seeing that before
My multi-year campaign for IFR flags has finally come to fruition!
March 17, 2025 at 3:17 PM
My multi-year campaign for IFR flags has finally come to fruition!
Reposted by Matthew Davies
NEW: Traders start buying euros as US dollar loses its lustre
Investors are slightly bearish on the US dollar for the first time since October, according to a BNP Paribas market-wide gauge
Sharpest jump ever in euro positioning, according to BofA client survey
www.ifre.com/story/517832...
Investors are slightly bearish on the US dollar for the first time since October, according to a BNP Paribas market-wide gauge
Sharpest jump ever in euro positioning, according to BofA client survey
www.ifre.com/story/517832...
March 17, 2025 at 10:55 AM
NEW: Traders start buying euros as US dollar loses its lustre
Investors are slightly bearish on the US dollar for the first time since October, according to a BNP Paribas market-wide gauge
Sharpest jump ever in euro positioning, according to BofA client survey
www.ifre.com/story/517832...
Investors are slightly bearish on the US dollar for the first time since October, according to a BNP Paribas market-wide gauge
Sharpest jump ever in euro positioning, according to BofA client survey
www.ifre.com/story/517832...
Reposted by Matthew Davies
Credit investors dump US bonds and buy Europe
European credit trading at a premium to the US for the first time in 3 years
US CDS hedging activity at highest levels since Silicon Valley Bank collapse in 2023 👇
www.ifre.com/story/518380...
European credit trading at a premium to the US for the first time in 3 years
US CDS hedging activity at highest levels since Silicon Valley Bank collapse in 2023 👇
www.ifre.com/story/518380...
March 17, 2025 at 9:26 AM
Credit investors dump US bonds and buy Europe
European credit trading at a premium to the US for the first time in 3 years
US CDS hedging activity at highest levels since Silicon Valley Bank collapse in 2023 👇
www.ifre.com/story/518380...
European credit trading at a premium to the US for the first time in 3 years
US CDS hedging activity at highest levels since Silicon Valley Bank collapse in 2023 👇
www.ifre.com/story/518380...
Reposted by Matthew Davies
NEW: Contrarians bet against “sea change” in European bond markets
Some investors have been scooping up European bonds following last week's historic market selloff
"I’m sceptical we will see debt issuance to the extent that’s being talked about"
www.ifre.com/story/517433...
Some investors have been scooping up European bonds following last week's historic market selloff
"I’m sceptical we will see debt issuance to the extent that’s being talked about"
www.ifre.com/story/517433...
March 11, 2025 at 2:56 PM
NEW: Contrarians bet against “sea change” in European bond markets
Some investors have been scooping up European bonds following last week's historic market selloff
"I’m sceptical we will see debt issuance to the extent that’s being talked about"
www.ifre.com/story/517433...
Some investors have been scooping up European bonds following last week's historic market selloff
"I’m sceptical we will see debt issuance to the extent that’s being talked about"
www.ifre.com/story/517433...
Continuing my on-and-off pilgrimage to drink in the great Ian Nairn’s favoured pubs, I’m in the Three Kings on the North End Road. ‘A door is not just a door, any more than a pint of bitter (which is very good here) is just alcohol,’ he wrote. Well. At least there’s still a door.
February 23, 2025 at 2:08 PM
Continuing my on-and-off pilgrimage to drink in the great Ian Nairn’s favoured pubs, I’m in the Three Kings on the North End Road. ‘A door is not just a door, any more than a pint of bitter (which is very good here) is just alcohol,’ he wrote. Well. At least there’s still a door.
James Murdoch in Atlantic story (based on some cozy chats): I won't give up stake in family trust because I care about democracy
James Murdoch in NYT story (based on papers submitted to court/evidence under oath): I won't give up stake in family trust unless I'm paid a shitload more money
Hmmm
James Murdoch in NYT story (based on papers submitted to court/evidence under oath): I won't give up stake in family trust unless I'm paid a shitload more money
Hmmm
February 15, 2025 at 2:02 PM
James Murdoch in Atlantic story (based on some cozy chats): I won't give up stake in family trust because I care about democracy
James Murdoch in NYT story (based on papers submitted to court/evidence under oath): I won't give up stake in family trust unless I'm paid a shitload more money
Hmmm
James Murdoch in NYT story (based on papers submitted to court/evidence under oath): I won't give up stake in family trust unless I'm paid a shitload more money
Hmmm
Reposted by Matthew Davies
IPOs on life support
Does private capital represent an existential threat?
www.ifre.com/story/511914...
Does private capital represent an existential threat?
www.ifre.com/story/511914...
February 14, 2025 at 5:48 PM
IPOs on life support
Does private capital represent an existential threat?
www.ifre.com/story/511914...
Does private capital represent an existential threat?
www.ifre.com/story/511914...
Upstairs, front seat, driver’s side. The only way to travel. 213 to Kingston
February 8, 2025 at 12:29 PM
Upstairs, front seat, driver’s side. The only way to travel. 213 to Kingston
Reposted by Matthew Davies
Much-needed rally in gilts, led by the front end, after a softer than expected UK inflation print
January 15, 2025 at 9:34 AM
Much-needed rally in gilts, led by the front end, after a softer than expected UK inflation print
Reposted by Matthew Davies
OPINION: LSEG data illustrate that the dealflow that keeps those in the City (not to mention financial commentators) in work wasn’t as bad in 2024 as it might have appeared, says Rupak Ghose. lseg.group/4fW2Hwx
OPINION: London has fallen – or has it? | IFR
lseg.group
January 10, 2025 at 8:46 PM
OPINION: LSEG data illustrate that the dealflow that keeps those in the City (not to mention financial commentators) in work wasn’t as bad in 2024 as it might have appeared, says Rupak Ghose. lseg.group/4fW2Hwx
One of the great biscuitmakers -- and therefore among the greatest of men. RIP, Sir Jim
https://www.thetimes.com/uk/obituaries/article/sir-jim-walker-05qkhlwvr
https://www.thetimes.com/uk/obituaries/article/sir-jim-walker-05qkhlwvr
January 3, 2025 at 11:59 AM
One of the great biscuitmakers -- and therefore among the greatest of men. RIP, Sir Jim
https://www.thetimes.com/uk/obituaries/article/sir-jim-walker-05qkhlwvr
https://www.thetimes.com/uk/obituaries/article/sir-jim-walker-05qkhlwvr
Only just noticed (while walking the dog) that Sandy Denny and Greg Lake are buried close to each other in Putney Vale cemetery (and not far from Eugon Sandow, the Victorian strongman)
January 1, 2025 at 2:40 PM
Only just noticed (while walking the dog) that Sandy Denny and Greg Lake are buried close to each other in Putney Vale cemetery (and not far from Eugon Sandow, the Victorian strongman)
Reposted by Matthew Davies
To celebrate joining Bluesky, here's the most joyful cricket video of 2024:
November 20, 2024 at 8:49 PM
To celebrate joining Bluesky, here's the most joyful cricket video of 2024: