HSBC to Scale Back M&A and ECM Operations in Investment Banking

HSBC is undertaking its largest investment banking retrenchment in decades, planning to exit its M&A and ECM operations in key Western markets. This restructuring focuses on shifting resources to Asia and the Middle East while consolidating debt capital markets and finance-led activities

Economic Resilience Supports Cyclical Market Rally

Economic resilience continues to support a robust cyclical rally, as key sectors benefit from sustained recovery. This outlook emphasizes growth in consumer demand, infrastructure, and industrials, driving cyclical stock performance