Hints and tips:
...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...The metaverse economy could grow to $8tn-$13tn by 2030, according to a recent Citigroup report....
...And that goes for other markets too....
...The former Citigroup banker is now turning to his extensive Rolodex for his latest act: creating shell companies, listing them on the stock market and then using the money raised to merge with real businesses...
...Equity strategists at Citigroup highlighted several risks to shares, even while they raised their forecasts for the S&P 500 this year....
...Spacs growing up Last week DD told you about the ex-Citigroup dealmaker who is leading Wall Street’s charge into blank-cheque vehicles....
...for a strong recovery; ii) commodity supply is broadly tight; iii) global stimulus offers a demand safety net; iv) reflation could re-emerge; and v) the US dollar appears overvalued, as per our macro team...
...Just 30% expect a V shaped recovery in the stock market....
...Also from December 31, Citigroup’s 2020 preview looked like this: Our Global Bear Market Checklist (BMC) suggests that this bull market, even as it approaches its eleventh birthday, has further to run....
...What’s priced: 2% global growth....
...Even so, the 36.5-per-cent transfer was a better outcome than secured lenders feared -- senior loans actually rallied at first, according to LCD, part of S&P Global Market Intelligence....
...But it is MUFG’s global growth strategy that really singles the bank and its chief executive out from the crowd....
...(WSJ) MUFG v Nomura The Japanese banks have travelled different roads to international growth. Which global strategy has worked better? (FT) Is Cathay Pacific heading into Chinese hands?...
...Steve Ashley, Nomura’s head of wholesale and global markets, plays down concerns about a revived overseas expansion....
...Trivago, which began as German start-up, said it will issue American depository shares representing class A shares of its affiliate, Travel B.V., which will be listed on the Nasdaq Global Select Market under...
...Economic growth will be “L-shaped” rather than “U-shaped” or “V-shaped,” it said. Over the last few weeks, China’sfutures exchanges have also introduced measures to curb speculative trading....
...The Philippines has recruited a whole handful of bookrunners, including Citigroup, Credit Suisse, Deutsche Bank, HSBC, JP Morgan, Morgan Stanley, Standard Chartered Bank and UBS....
...Qingdao — pronounced chin-dow — is a port city in China famous for its Tsingtao brewery, but the name continues to cast a long shadow over the global metals market. Here’s why. What has happened?...
...Basel III capital rules, introduced in 2010 after the financial crisis, gave very high risk weights to the portion of a securitisation that banks must keep on their books....
...The top brass at Citigroup gathered early this summer at their annual off-site meeting to discuss the fortunes of the US bank....
...Santander does not disclose its capital ratio is under the fully loaded Basel III rules....
...Fabio José Fagundes, of Santander, said: “We have invested considerably in a platform that will allow a sustainable future for the financing of global trade flows.”...
...“Retail banking in Europe is a relatively simple story – most European markets are consolidating, which gives the banks more power to raise their margins,” said William de Winton, head of the global financial...
...In short: the restructuring story at Citigroup is moving along, but the volatility of capital markets and the global economic slowdown meant there was no growth story to accompany it....
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