✨Barnard Investment Group - Weekly Newsletter✨
🚨BIG General Body !
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🔹 BNP Paribas Site Visit
Join Project V Solutions for an exclusive site visit to BNP Paribas’s trading floor! Explore the world of global finance with BNP Paribas, a leader in sustainable finance, and gain valuable insights through a panel discussion, networking, and an insider’s look at the trading floor.
📅 Date: Friday, April 11, 2025
🕒 Time: 3:30 PM
📍 Location: 787 7th Avenue, NY, NY 10019 (near 52nd Street & 7th Avenue)
🔗 Register here to secure your spot!
Guggenheim Securities – Finance Intern (Summer 2025)
📍 Location: New York, NY (On-site)
📋 Details: Support key finance functions including FP&A, reporting, and expense analysis. Interns will engage in budgeting, forecasting, and ad hoc financial modeling. Strong Excel and analytical skills required. Exposure to senior leadership and core business operations.
🔗 Apply Here
Dartmouth Partners – Private Capital Advisory: Secondaries Summer Analyst (2026)
📍 Location: New York, NY (On-site)
📋 Details: Intern with a top-tier secondaries advisory team. Gain exposure to deal execution, financial modeling, market research, and investor outreach. Ideal for students with strong finance fundamentals and an interest in private equity.
🔗 Apply Here
McKinsey.org – Forward Learning Program
📍 Location: United States (Remote)
📋 Details: A free 10-week learning journey focused on business problem-solving, communication, adaptability, and digital skills. Open to early-career professionals and job changers. Earn a digital badge and join a global network.
💡 No cost | ~2 hrs/week | Fully virtual
🔗 Apply Here
Citi – Markets Quantitative Analysis Summer Analyst (2026)
📍 Location: New York, NY (On-site)
📋 Details: Join the Markets Quantitative Analysis team to apply data science, financial engineering, and machine learning on real trading challenges. Includes rotations, mentorship, and a firm-wide data science competition.
🔗 Apply Here
BNP Paribas – Global Markets: Sales & Trading Summer Analyst (2026)
📍 Location: New York, NY (On-site)
📋 Details: Rotational internship across Sales, Trading, and Structuring. Gain exposure to live deals, derivatives, and markets strategy. Includes project work, mentorship, and speaker series.
🔗 Apply Here
Barclays – Equity Research Summer Analyst Internship (2026)
📍 Location: New York, NY
📋 Details: Contribute to research on market trends, company financials, and investment insights. Build models, write research notes, and support client meetings. For students interested in markets and analytics.
🔗 Apply Here
HUGO BOSS – Finance Intern (Summer 2025)
📍 Location: New York, NY (Hybrid)
📋 Details: Work with the Finance & Accounting team on reporting, inventory valuation, and profitability analysis. Learn SAP, budgeting processes, and store performance metrics. For rising juniors/seniors with strong Excel skills.
🔗 Apply Here
📉 Why Aren’t Treasury Yields Falling With Stocks
The stock market may be correcting, but bonds aren’t acting like their usual safe haven. As equities plunged last week, long-term Treasury yields actually rose—a counterintuitive move in times of stress.
Why? Bond traders seem to be pricing in a short-term economic shock from Trump’s new tariffs, followed by a return to stability. While short-term yields are lower, as markets expect the Fed to cut rates, longer-term yields stay elevated due to inflation concerns, limiting the Fed’s ability to ease aggressively.
With the S&P 500’s forward earnings yield now just 5.5%, barely outpacing Treasury yields above 4%, stocks remain vulnerable—especially if earnings disappoint. Inflation expectations are mixed: near-term projections reflect a tariff-induced spike, but longer-term forecasts assume a return to pre-tariff norms.
With the $37 trillion U.S. debt pile and a potential recession looming, risks to bond markets are rising, though short-term funding remains stable. Short-term bonds may be mispriced if the Fed holds firm on rates, while 10-year TIPS at 2% look attractive in a world facing slower growth and persistent inflation.
📌 Source: The Wall Street Journal, “Stocks Are in Turmoil, but Treasury Yields Are Stubbornly High,” April 8, 2025.
💥 Dip Buyers Jump Back In—Despite Tariff Shock and Market Jitters
After a sharp stock market selloff sparked by President Trump’s new tariffs, investors are jumping back in—reviving the “buy the dip” playbook despite Wall Street’s warnings that this time might be different.
The Dow surged over 1,400 points early Tuesday as hopes for trade negotiations calmed nerves, though gains narrowed by midday. Many investors saw the drop as a buying opportunity, with retail investors pouring billions into stock ETFs and mutual funds.
Even after the Magnificent Seven lost $1.8 trillion in market value, dip-buying continues. Yet, market volatility remains high, with the VIX recently hitting its highest level since April 2020. Some investors, like Richard Anderson, regret buying too early, while others, like Amber Petrovich, are adopting a more cautious approach.
For now, many are betting that history will repeat. Whether this optimism holds depends on what comes next.
📌 Source: The Wall Street Journal, “Dip-Buyers Brave the Markets After Carnage in Stocks,” April 8, 2025.
🏦 Banks Aren’t Paying Tariffs—But
They’re Still Paying the Price
Wall Street’s biggest banks may not import goods, but they’re still feeling the impact from President Trump’s new tariffs.
The concern is threefold: slower growth, rising defaults, and shrinking profits. The KBW Nasdaq Bank Index dropped nearly 10% after the tariff announcement—its worst day since the 2023 SVB collapse. The fears are tied to risks in lending, dealmaking, and margins.
“If your clients get hit, so do you,” says Truist analyst John McDonald. Consumers are already dealing with high credit card debt, and tariff-driven price hikes could worsen the situation, while banks may be forced to take early loan-loss provisions.
Companies are at risk too, with higher costs leading to lower loan demand and fewer deals, cutting into banks’ revenues. Meanwhile, falling long-term Treasury yields squeeze margins, while sticky inflation keeps deposit costs high if the Fed doesn’t ease rates.
Though trading desks could offer a silver lining amidst the volatility, political uncertainty may keep investors on the sidelines.
Banks might not be at the center of the trade war—but they could be among its first casualties.
📌 Source: The Wall Street Journal, “Banks Don’t Pay Tariffs, but Tariffs Will Cost Them,” April 4, 2025.
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