Positive Sentiment and a return to Bonuses

Investment banks are set to announce massive profits for the quarter and hefty bonuses are to be dished out to employees.  Hold on…isn’t it 2009 and we’re just struggling out of a huge recession, the likes of which haven’t been seen since World War II?  The first sentence here sounds like something out of 2007, during the boom period.  However, despite the massive downturn it seems as though investment banks are back on track. 

The bonus issue has been raging around governments and watchdogs from here to the USA since the financial disaster that took speed in September 2008 from the near-collapse of the Lehman Brothers.  Many feel that the reckless lending habits of banks were to blame, along with the “bonus culture” of the financial world.  But now they are back – despite efforts by the Financial Services Authority to crack down.

The financial market as a whole is enjoying some positive sentiment.  The US dollar is continuing its weak streak, leading to a rise in the price of oil (it reached over $75 a barrel) and the Euro expected to reach $1.50 in the near future – according to the foreign exchange market.

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