The bearish analyst says there is too much market optimism currently.
Market making profitability has slumped 30%
The industry is too opaque in its disclosures, leaving investors guessing.
Firms trying to sell in the EU are finding it hard without credentials.
Trade groups argue the SEC went too far when it rolled out rules mandating disclosures and barring firms from doing sweetheart deals with some investors.
Markets await signal for economy and likely Fed direction.
Michael Hartnett says investors should 'sell the last rate hike.'
With the products looking similar, fees will be the difference.
The firm has hired a BlackRock veteran to spearhead the advance.
The bank has set aside cash to fund corporate debt purchase.
