Hints and tips:
...Take a break from the news V-necks have been verboten for as long as most of us can remember, writes Teo van den Broeke....
...HSBC USA is in the process of selling hundreds of millions of dollars of commercial real estate loans, potentially at a discount, as part of an effort to wind down direct lending to US property developers...
...HSBC USA is in the process of selling off hundreds of millions of dollars of commercial real estate loans, potentially at a discount, as part of an effort to wind down direct lending to US property developers...
...David Bell: It will stagnate, probably doing as badly as other advanced countries (USA excepted)....
...Arthur Smith, chair of Tinopolis USA, was also owed a similar sum....
...Simon Wells, chief European economist at HSBC: The UK is likely to underperform the eurozone through 2023....
...Protesters in Hong Kong camped out beneath the HSBC headquarters. The date was also chosen for one of the biggest and most enduring iterations of the movement: Occupy London....
...They illustrate their argument by comparing the paths to success of the richest people in Mexico and the USA (p39)....
...Stuart Graham, founder of Autonomous Research, said few investors were expecting the ECB to allow banks to return to normal payouts later this year, saying that January 2021 “is a more realistic date”....
...Companies are also responding to the mood shift from banks....
...Valuation and recommendation: HSBC’s shares have fallen by 42% year-to-date versus a 51% fall in the average share price of the other mainstream UK banks....
...This highlights the need for more efficient food supply chains, according to HSBC Global Research....
...Overall, trade has performed better than many worst-case scenarios supported by speedy government and bank intervention....
...Bank executives have also warned that new accounting rules in Europe — which force lenders to set aside provisions for bad loans at an earlier date — will aggravate the problem by quickly impairing capital...
...HSBC, in common with its UK bank peers, suffered the “mandated” cancellation of its 2019 final dividend and a “block” on dividends during calendar year 2020....
...Whilst we have a BUY rating on the name, it is hard to see how this is not an obvious and relatively more significant event for HSBC given the outperformance of the name YTD (-23% v SX7P down 38%; LLOY down...
...Unrelatedly, here’s the latest from HSBC: 1....
...Valuation The shares are down by -32% year to date and flattish on the last month....
...Just 30% expect a V shaped recovery in the stock market....
...Notably, the bank lending standards have tightened appreciably in G-4 in Q1, driven by the US – see [below] chart....
...Within the large-cap banks, we see a superior risk/reward, and greater absolute upside, for Lloyds (Buy) and HSBC (Buy), while OneSavings Bank (Buy) remains (by far) our preferred play within the wider sector...
...● Fevertree Drinks was under pressure after industry data suggested tough recent trading for the tonic water maker, in spite of the warm August bank holiday....
...“He said to me, ‘Look, the building is being assaulted by the cannons,’ which were two gantries at HSBC [next door], and by the sharp corner of the triangular Bank of China building [beyond that]....
...We arrive at favourable answers for all four: we expect a V-shaped recovery. Even if 2020 is down €-5b, 2021 will be up by €+8b....
...Simon Wells, chief European economist at HSBC: The UK is experiencing two large economic shocks: Covid-19 and a fairly hard Brexit....
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