First Step to Final Offer (08/6/24)

RECRUITU EXCLUSIVE CLASS OF 2027

Raymond James’ application for their Banking Insights program in NYC is LIVE. The program includes three virtual learning sessions focused on educating top sophomore business students on how our analysts and associates help corporations raise capital, issue shares of stock in an IPO, provide financial consulting services, and negotiate a merger or acquisition.

CAREER OPPORTUNITIES

Class of 2027 Jobs & Events

• Goldman Sachs Possibilities Summits [NEW] Link here

• Deloitte Consulting Discovery Sophomore Intern Summer 2025 Link here

• Deloitte Discovery Sophomore Intern Risk & Financial Advisory (Government & Public Services) - Summer 2025 Link here

• Deloitte Discovery Intern (Sophomore) Consulting (Government & Public Services) - Summer 2025 Link here

• RBC Capital Markets U.S. Pathways Diversity Award Program Link Here

• RBC Capital Markets U.S. Women’s Advisory Program Link Here

• RBC Capital Markets LGBTQ+ Sophomore Insights Program Link Here

• Bain & Company Event Series Link Here

• Deloitte Events Link Here

• Goldman Sachs Emerging Leaders Series - Link Here

• Morgan Stanley Summer 2025 Applications - Link Here

Class of 2026

Summer 2025 Applications

• MUFG 2025 Corporate, Investment Banking and Markets (CIBM) Summer Analyst Program [NEW] - Link here

• Deutsche Bank Internship Program - Investment Bank: Origination and Advisory - New York 2025 - Link here

• Deutsche Bank Internship Program - Investment Bank: Origination and Advisory Capital Markets - New York 2025 - Link here

• Deutsche Bank Internship Program - Investment Bank: Origination and Advisory - Jacksonville 2025 - Link here

• Deutsche Bank Internship Program - Investment Bank: Origination and Advisory - San Francisco 2025 - Link here

•  Deutsche Bank Internship Program - Investment Bank: Origination and Advisory - Boston 2025 - Link here

• Deutsche Bank Internship Program - Investment Bank: Origination and Advisory - Chicago 2025 - Link here

• Lazard 2025 Institutional Client Group Summer Internship - Link Here

• RBC Capital Markets 2025, Municipal Finance Summer Analyst - Link Here

• Baird, Equity Research Analyst Summer 2025 - Link Here

• BCG Associate Internship - Link Here

• Bain & Company Associate Consultant Intern - Link Here

• Santander Summer 2025 Analyst Role - Link Here

• Morgan Stanley 2025 Investment Management Summer Analyst - Fixed Income - Link Here

• Nomura Summer 2025 Analyst Roles - Link Here

• Citadel Securities Trading Fundamental Analyst - Link Here

• Loop Capital Summer 2025 Analyst Positions - Link Here

• Stifel Financial Corp Summer 2025 Analyst Roles - Link Here

• Citi Summer Summer 2025 Analyst Roles - Link Here

• StepStone Group Summer 2025 PE Analyst - Link Here

• Guggenheim Summer 2025 Applications - Link Here

• Oppenheimer Summer 2025 Applications - Link Here

• Abdiel Capital Summer 2025 Application - Link Here

• Solomon Partners Summer 2025 Applications - Link Here

• Long Ridge Summer 2025 Application - Link Here

• D.E. Shaw Summer 2025 Application - Link Here

• Bank of America Summer 2025 Applications - Link Here

• Point72 Summer 2025 Application- Link Here

• JMI Equity Summer 2025 Application - Link Here

• J.P. Morgan Summer 2025 Application- Link Here

MARKET NEWS

Goldman Economists Raise U.S. Recession Risk to 25%

Goldman Sachs economists have revised their assessment of the likelihood of a U.S. recession occurring within the next 12 months, increasing it from 20% to 25%. This adjustment comes amid persistently high inflation and tighter monetary policies implemented by the Federal Reserve. The updated forecast reflects concerns over the potential impact of ongoing interest rate hikes on consumer spending and business investments. While the risk remains relatively low compared to historical standards, Goldman emphasizes the importance of monitoring economic indicators closely. The firm also highlighted the labor market's resilience and strong consumer demand as mitigating factors. (Bloomberg)

Global Market Rout Intensifies Amid Economic Concerns

Global markets experienced a significant sell-off this week, driven by mounting economic concerns and investor repositioning. Major indices across the U.S., Europe, and Asia saw substantial declines, with the S&P 500 dropping 2.5%, the FTSE 100 falling 3.1%, and the Nikkei 225 plunging 4.2%. The sell-off was fueled by fears of an economic slowdown, exacerbated by high inflation, rising interest rates, and geopolitical tensions. Analysts noted that investors are increasingly seeking safe-haven assets like gold and U.S. Treasuries amid the market turbulence. Despite the downturn, some experts suggest that the correction may present buying opportunities for long-term investors. (Reuters)

Asset Managers Concerned Over Cash Piling Up on Sidelines

Top asset managers are struggling with investor reluctance to embrace risk and put money into the markets, as high-yield savings accounts and caution over market volatility and economic sentiment have left up to $1.5 trillion out of the market. Factors contributing to this cautious behavior include risk-free yields outpacing inflation, a narrow stock market driven by a few volatile tech stocks, widespread geopolitical conflicts, poor economic sentiment, and uncertainty surrounding the U.S. election. More than $6.1 trillion is held in U.S. money market funds, earning about 5% with little risk, up from $4.5 trillion before the Federal Reserve began raising interest rates. Investors have missed out on approximately $225 billion in stock market gains on $1.5 trillion in excess cash as markets surged this year. Despite hopes that a broad market rebound would attract investors back, many remain hesitant, impacting asset managers' fee income. (FT)

M&A DEAL OVERVIEW

Quantum Capital Group to Acquire Cogentrix Energy for $3 Billion

NEW YORK, August 5 (Reuters) - Quantum Capital Group has agreed to acquire power producer Cogentrix Energy for $3 billion. This strategic acquisition is set to expand Quantum Capital's footprint in the energy sector, particularly focusing on renewable energy projects. Cogentrix Energy, known for its diverse portfolio of power generation assets, will enhance Quantum Capital's capacity to deliver sustainable energy solutions. The deal includes investments in upgrading and expanding Cogentrix's existing facilities, ensuring a robust supply of renewable energy. This acquisition aligns with Quantum Capital's goal of leading the transition towards a more sustainable energy future. (Reuters)

TECHNICAL QUESTION OF THE WEEK:

ADDITIONAL RESOURCES

• Class of 2027 Application Tracker

LAST WEEK TECHNICAL QUESTION OF THE WEEK ANSWER: