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Wall Street in Davos – Day One

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Modern Money

A roundup of all the best financial news and analysis coming out of the World Economic Forum Annual Meeting in Davos, Switzerland.

Are we all the way back from the brink?: The top financial event on the agenda Wednesday was the “Are Markets Safer Now?” panel debate featuring Barclays CEO Antony Jenkins, HSBC Chairman Douglas Flint, Elliott Management CEO and co-CIO Paul Singer and Stanford professor Anat Admati. CNBC’s coverage takes aim at the panel’s views on financial derivatives. Reuters highlights how when the panel ended, 61.7% of the crowd watching said financial markets are safer now than they were 5 years ago. Watch the entire panel discussion.

All-Access Axel: UBS Chairman Axel Weber spent part of the day talking to Bloomberg TV about the dynamics of the equity markets. Weber then made headlines during the “Is Europe Back?” panel with his comments about the European Central Bank’s stress tests. Though UBS is not subject to the ECB’s review, said he expects some banks to fail the review. “An exam where everyone passes is usually viewed as not being a credible exam. And I expect some of the banks not to pass this test. Despite the pressure from politics, some will not pass.” 

Gorman talks trust in banking, positive outlook for FICC: Morgan Stanley Chairman and CEO James Gorman chatted with Bloomberg TV about what the financial services industry is doing to right the economy and its reputation. Gorman predicts 2014 will be a stronger year for fixed-income, currencies and commodities. When asked about those who are obsessed with Morgan Stanley’s fixed-income business, Gorman jokingly said they should “Get a life!”

Aberdeen’s Gilbert touts emerging markets: Aberdeen Asset Management CEO Martin Gilbert told CNBC he is bullish on emerging markets. However, Gilbert said he is not convinced Asian markets will soon become bigger than the U.S.

Shhhhhh!!!: Quartz looks at the history behind the Davos code of secrecy.