Watch Out for Post-Labor Day Bank MergersBy
The long weekend is about more than back-to-school shopping.
Photographer: John Taggart/Bloomberg
Bond traders may be seen lounging on the beach during the long Labor Day weekend, with disappointing U.S. jobs data pointing to lower odds of a Fed rate hike. Investment bankers, on the other hand, might not be so lucky.
In particular, those covering the financial industry may be burning the midnight oil, according to a report from FIG Partners. Since 1990, 187 bank mergers have been announced in the first eight days of September, the research firm said. “Our analysis of several thousand bank industry mergers from 1990 through 2015 signals that early September is historically an active time for merger announcements,” writes a team led by Research Director Christopher Marinac…
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