Jefferies Says Investment-Banking Backlog Hits Record Level

The transcript discusses Jefferies' optimistic results and their implications for larger banks reporting soon. Despite global uncertainties like war threats and trade conflicts, capital markets remain strong. The 2020 elections may front-load banking activities due to potential administrative changes. Volatility, while a concern in 2018, is now seen as beneficial for trading. Jefferies has improved its market position, surpassing Deutsche Bank in M&A league tables, aided by regulatory changes.

What role does volatility play in trading and how has it changed from 2018 to the present?

Discuss the implications of Jefferies surpassing Deutsche Bank in M&A league tables.