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...Formed in 2019 by a tie-up between BB&T and SunTrust, Truist lost nearly $5bn in the quarter, down from a profit of $1.6bn in the same quarter the year before....
...The last big merger between two banks occurred almost five years ago, when regional lender BB&T bought SunTrust for about $28bn in a $66bn deal, forming Truist....
...Remember, the Covid-19 pandemic caused a crisis of almost every other kind, but big US banks didn’t collapse....
...Even junk-rated companies, which aren’t considered the safest borrowers, aren’t considered to be distressed until their yields reach 10 percentage points above the risk-free benchmark....
...My point is that insurers and banks don’t fail due to lack of capital. Banks fail because of poor lending practices and not providing sufficiently for non-performing loans....
...Christine Lagarde said the European Central Bank would be unable to commit to a particular path of interest rate cuts even once it started to ease monetary policy, despite signs that wage growth has peaked...
...There is far too much hand-wringing from banks and bond investors as bonds fall and yields rise back up towards 4.75 per cent, reversing the rally at the close of 2023 (“The great bet on rate cuts is off...
...He even recommends at this point that the Bank conduct a review to decide what to do. Wasn’t this supposed to be that review? Who will conduct the next one?...
...For a gestalt image, start with the Bank of America fund managers’ survey....
...You can’t, as they say, make this stuff up....
...Seven banks — out of 45 then operating in the country — have been granted presidential approval, including Mercedes-Benz Bank, Ikano, J&T and Intesa....
...Manolo Blahnik patent-leather BB shoes, £545....
...Importantly, until clear valuation gaps open up, bank deals (especially using shares) will remain speculation — in Italy and beyond....
...People don’t like high borrowing costs, a working paper he has co-authored concludes Former BoE official David Bholat convincingly argues that the central bank digital currency blueprint in the UK creates...
...The instruments, of course, don’t do all the work....
...From a report the investment bank sent out yesterday, with Alphaville’s emphasis below: — The wide adoption of hybrid work caused a structural decline in office demand....
...Deutsche’s shares aren’t valued highly enough to create value if it wants to pay for one of its regional rivals with stock rather than cash....
...Don’t forget the lessons of the regional banks like SVB in the US.”...
...That’s what interests Sangheum Cho, of the World Bank’s Development Research Group, who’s been using ChatGPT to pick buy-sell portfolios after feeding it with fintwit....
...“It doesn’t take a lot to send oil and gas prices back to $120 or higher.”...
...Not surprisingly, the big banks don’t want this to happen. They believe enough is enough....
...“In particular, if the Fed can’t cut rates soon it could stoke up dollar strength, which causes stress for the European economy and constrains other central banks’ ability to cut rates.”...
...The ghostly Sakamoto speaks to the audience before revisiting the gorgeous, halting melody of his 1999 piece “Energy Flow”, marvelling that it reached number one in the Japanese chart: “I don’t know why...
...“That doesn’t mean they are activist . . . there are legitimate concerns, but you have the rightwing trying to enlist those legitimate concerns to attack anybody who cares about the climate crisis.”...
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