Hints and tips:
...Sunday Australia: Philip Lowe steps down as Reserve Bank of Australia governor....
...This strengthened its land bank to 86,571 plots and the company said it planned to deliver 12,200 homes per year over the next two years — 20 per cent more than last year....
...Hold: Bellway (BWY) We suspect assumed sales prices may need to modify in the coming year if consensus bank forecasts are anywhere near accurate, writes Alex Newman....
...The full list of successful banks includes: Arbuthnot Latham CYBG Co-Operative Bank Hampden & Co Metro Bank Monzo Nationwide Building Society Santander Starling Bank Handelsbanken TSB...
...In the UK they span the sector: Metro does ordinary retail banking; Hampden does classy private banking; and OakNorth lends to fast- growing SMEs....
...The three cornerstone investors include Hampden Holdings, from which the bank derived its name, as well as Catlin Insurance and a family office....
...But a few weeks ago I went in to visit Graeme Hartop, chief executive at the UK’s newest private bank, Hampden & Co....
...Hampden & Co, run by chairman Ray Entwistle and CEO Graeme Hartop, sits across Charlotte Square from the old site of Adam & Co, the private bank (now part of RBS) that Entwistle once ran....
...Banks say institutional investors are increasingly asking about using ETFs as an alternative to index CDS....
...Hampden & Co, a new UK private bank launching in the coming weeks, is focusing on offering digital capabilities alongside traditional banking services, in a move that could stir the 400-year old industry...
...Hampden & Co....
...“The consensus seems remarkably rosy at the moment, and that makes me suspicious,” says Michael Hampden-Turner, a strategist at Citi....
...There has “been just a bigger focus on macro risk rather than micro risk”, says Mr Hampden-Turner....
...Behind the normalisation was last July’s pledge by Mario Draghi, European Central Bank president, to do “whatever it takes”, to preserve the euro....
...“The big downside of the ban is that it is likely to increase borrowing costs for financials,” said Michael Hampden-Turner, Citigroup credit strategist....
...“The market has clearly been skewed by the unwinding of all these CDS,” Mr Hampden-Turner says....
...The restructuring advisory arms of larger investment banks, or adviser-focused investment banks, have been hiring more cautiously, as the number of larger companies forced to restructure – which often require...
...Constrained bank lending and weak economic growth will increase the default rate of European companies to 6 per cent by the end of the year, from around 2.3 per cent currently, Michael Hampden-Turner, a...
...for most big banks....
...This will increase the default rate on European groups rated below investment grade to 6 per cent by the end of the year, from about 2.3 per cent at the moment, Michael Hampden-Turner, a Citigroup analyst...
...Stage one of the auction was released at 11:00am London time, and thus far is looking in line with expectations: With a net open interest to sell, this means there is excess supply — banks and investors...
...- What links Apple and Bank of America, Research Puzzle asks. Until tomorrow…...
...“ Michael Hampden-Turner, credit strategist at Citi, said: “The credit derivative market could be undermined by a failure of the CDS settlement process, because it would mean that prudent bond holders who...
...But the ESM is trying large-scale recapitalisation of banks in Spain. That’s something different....
...Over again to Michael Hampden-Turner of Citi, from his note on Friday: Greek banks might be natural buyers of the new bonds on offer, but it seems unlikely they will be bidding in size ahead of their bailouts...
International Edition