It seems too good too be true (and probably is), but according to the Financial Times today, corporate brokers aren’t doing too badly. The smaller ones are said to be doing well, but then again so are large ones attached to banks which might have spare cash to lend. Hoare Govett and Altium have added lots of clients. Might they be adding headcount too?

Wall Street trader becomes monk (Telegraph).

Redundancies coming at MS prime brokerage? (Clusterstock).

UBS plans to build on its equities business and keep a “leading position” in investment banking (Bloomberg).

“It’s far from certain that this sharply scaled-back model, which will no longer have access to cheap funding from the private bank, can compete globally.” (Telegraph)

Bailout=Granddaddy of all carry trades (CNBC).

Depression index (Economist).

“I would buy stock in antidepressant firms” (Wall Street Journal).

There were reports from dealing floors this morning that a big British bank was having difficulty renewing credit lines (BBC).

Hedge funds eat their young (Infectious Greed).

Extra week’s holiday coming your way? (Clusterstock).

Blog job (Dealbreaker).