— This is the script of CNBC's news report for China's CCTV on September 24, Wednesday.
Welcome to the CNBC Business Daily, I'm Qian Chen.
SEPTEMBER SURPRISE FOR THE BIG BANKS? - At the Barclay's Financial Conference earlier this month, the CFOs of some of the nation's big banks made cautious comments about the third quarter trading environment. The consensus was its on par with last year when trading revenue was hammered by uncertainty about the Fed's wind down of its asset purchasing program, and the threat of a government shutdown.
Now, two weeks before quarter end, September 's shaping up to be a fairly decent month for traders given the rise in short term rates, volatility in the currency markets and the record run in the stock market. Mary Thompson has more.
FOR TRADERS, SEPTEMBER IS THE MAKE OR BREAK MONTH IN THE THIRD QUARTER, AND THIS YEAR, IT LOOKS LIKE THEY MIGHT MAKE IT
(SOT/MOSBY) Marty Mosby, Vining Sparks IBG
what we are looking at is September being stronger than what we have seen
(VO)
ACROSS A WIDE RANGE OF TRADING BUSINESSES VOLUME AND VOLATILITY IS UP SINCE THE SUMMER SLUMP OF AUGUST AND A MODEST JULY.
(VO)
AND THAT COULD BE GOOD NEWS FOR BIG BANKS INCLUDING JPMORGAN
(VO)
AND GOLDMAN SACHS, WHERE TRADING REVENUE CAN BE ANYWHERE FROM 15 TO 40 PLUS PERCENT OF A BANKS TOTAL.
(VO)
THE STOCK MARKETS RECORD RUN, AND A FLOOD OF INITIAL PUBLIC OFFERINGS, INCLUDING THE LARGEST EVER, ALIBABA'S AMONG THE REASONS ANALYST MARTY MOSBY THINKS SEPTEMBERS LOOKING BETTER.
(SOT/MOSBY) Marty Mosby, Vining Sparks IBG
we started to see some IPOS which cause some trading activity, as we started to see at least the middle part of yield curve moving higher and as we are seeing some foreign exchange volatility finally we could think that September might at least hold third quarter close to what we saw in the second quarter.
(VO)
MIX IN THE VOLATILITY SEEN IN THE OIL MARKETS AND THE HIGHER LEVELS OF ACTIVITY ACROSS COMMODITIES CURRENCIES, BONDS AND STOCK COULD CREATE A SEPTEMBER SURPRISE.
(MARY STANDUP)
STILL ANALYSTS, INCLUDING MOSBY CAUTION IT MAY NOT BE ENOUGH TO OVERCOME THE SLUGGISH START TO THE QUARTER, MEANING ANY SURPRISE, MIGHT BE SUBTLE.
(VO)
YET AFTER A YEAR MARKED BY DECLINES IN TRADING VOLUME A SUBTLE CHANGE TO THE UPSIDE, A WELCOME SIGN FOR THE BANKS.
MARY THOMPSON
I'm Qian Chen, reporting from CNBC's Asian headquarters.
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