Get ready for a lot of hiring news. The strong surge in FICC-oriented business has prompted big banks to staff up. According to the AP, Morgan Stanley will add as many as 400 professionals to its trading and sales units this year. About half those jobs have already been filled. So it looks like it is willing to reassert itself in this arena.

Other banks are also chasing the surge in this area, but we've noted before that the big surge--that the likes of Goldman Sachs took maximum advantage of--may not last. Spreads will have to come down, as will commissions, as more competitors enter the field. That said, a firm like Morgan Stanley could probably use 400 additional hands even as the market gets tougher. So this is good news, but I think we'll see that banks will favor those that managed to survive the recent blood-letting. Those that have been out of work may feel shunned. 

For more:
- here's the article

Related Articles:
Update: Big moment for Morgan Stanley Smith Barney
Morgan Stanley to bounce back quickly?
Morgan Stanley bucks earnings trend