Hints and tips:
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
...More seriously, Goetzman et al argue that art price changes are largely a function of wealth concentration....
...They found that the standout stocks today are at much cheaper valuations than the stars of the 90s were, and while the valuations of the Magnificent 7 et al do look a lot like the “Nifties,” they tend to...
...Every sector of the S&P is up — industrials, consumer staples, et cetera, et cetera. There’s only a few sectors, in fact, that are only up modestly. Most sectors are up like 10 per cent....
...Wherever possible lies should be told about classes of people (Republicans, elites, big business, the media, et al) not specific individuals....
...If you owned rate-sensitive, high-risk stocks yesterday you have Unhedged’s permission to sell and take the rest of the year off (Carvana, Zillow, SoFi, et al rose 10 per cent or more)....
...The rap sheet for Binance covered a lot of ground, and I mean a lot of ground, like trades with North Korea, trades with Iran, trading with al-Qaeda, trading with Isis, involvement in the narcotics trade...
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...al)....
...Bad Bunny has been the most streamed artist on Spotify every year since 2020, a Latin American challenger to the Anglosphere supremacy of Drake, Taylor Swift, Ed Sheeran et al....
...Everyone expects Jay Powell et al to say “no rate increase today, but maybe in a month”....
...Shares in other banks considered to have some degree of asset-liability mismatch (Western Alliance, Zions et al) only saw their shares wobble a little bit yesterday....
...The recent rise of the Faangs, et al, looks like a knee-jerk reaction to the fall in rates and rate expectations that followed the banking mess (the 10-year yield has fallen from 4-ish per cent to 3.6-ish...
...To put it more simply: Jiang et al argue there are $2.2tn in mark-to-market losses out there, and there is only $2.2tn in equity in the US banking system....
...But as Steven Kelly of the Yale Program on Financial Stability pointed out to me, Yellen et al will need the goodwill of the big banks should some other bank or banks get into trouble....
...The addition of the “+” countries (Russia, Kazakhstan, Mexico et al) to the cartel have increased its market share....
...If we are right that consumer spending, despite some recent softening on the margin, is still at or above trend, that is another thing for Powell et al to fret over....
...In the communications sector, the video entertainment companies (Warner Bros Discovery, Paramount, Disney, Netflix et al) explain the bulk of the outperformance....
...What about how concentrated the stock market gains are with Nvidia, Microsoft, Google et al? I mean, shouldn’t that weigh against this rally? What about that? Katie MartinMaybe yes....
...Prosecute fraud, maybe regulate crypto exchanges like casinos, and keep the SEC et al out of it. This is a disagreement about how to cordon off crypto so that when crypto burns, it is controlled....
...Email me: robert.armstrong@ft.com....
...But even in the face of this poignant example, the Chan et al/Verdad view is very hard for a person like me to accept....
...The resurgence of tapestry can be attributed to a renewed interest in traditional crafts, says fashion historian and co-curator of the V&A’s recent Fashioning Masculinities exhibition, Marta Franceschini...
...A true crisis could develop if Binance et al have significant hidden exposure to declining prices, perhaps through DeFi investments....
...All assets may perform badly under stagflation, but we’d rather own Pepsi, Johnson & Johnson, Kimberly-Clark, Bristol-Myers et al than sit and watch our cash lose its earnings power....
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