Morgan Stanley Bond-Trading Revenue Lifts Profit to All-Time High

The transcript discusses Morgan Stanley's financial performance, highlighting a strong adjusted EPS of $1.20 and robust revenues in investment banking and wealth management. Concerns are raised about the wealth management pre-tax margin falling below strategic guidance, potentially due to headcount cuts. The impact of market conditions, such as interest rates and asset prices, on future performance is analyzed. The transcript also covers the performance of equities and derivatives, noting strengths in these areas.

What was the adjusted EPS reported in the first section?

• $1.70

• $1.00

• $1.20

• $1.50

Which revenue category was mentioned as being slightly below expectations?

• Investment Banking

• Net Interest Income

• Equity Sales and Trading

• Wealth Management

What was the wealth management pretax margin reported in the second section?

• 27.0%

• 25.4%

• 26.5%

• 24.5%

What potential charge was discussed in relation to headcount cuts?

• $150 million

• $250 million

• $100 million

• $200 million

Which area of equities was highlighted as performing well in the third section?

• Fixed Income

• Prime and Cash Equities

• Derivatives

• Commodities