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....
...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 riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...SF: You wrote earlier this year that the long period of lax monetary policy had created increased systemic risks. The context for that was the turmoil around Silicon Valley Bank, et al....
...Given how volatile the data was during Covid-19, Williams et al suspended their estimates until May....
...But as Goldman’s Praveen Korapaty et al point out, the US government bond market has been pretty choppy for a while now....
...That the Fed’s rate increases precipitated a banking crisis before they got inflation down to even vaguely near their target looks like a good example of what Akinci et al were arguing last year....
...al)....
...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....
...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....
...And corporations of all types use longer-term currency swaps to hedge their own foreign currency bond liabilities (McBrady et al (2010), Munro and Wooldridge (2010)). The BIS’s suggestion?...
...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....
...The addition of the “+” countries (Russia, Kazakhstan, Mexico et al) to the cartel have increased its market share....
...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....
...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....
...A Federal Reserve Board of Governors paper by Edmund Crawley et al says $2.5tn of Fed balance sheet unwind would approximately equate to a 0.50 percentage point of tightening, or 20 basis points per trillion...
...Luckily, efforts to ram crypto’s square peg into the round hole of the Securities Act of 1933 (et al) have proceeded slowly to date. But there is danger this mistaken project will accelerate now....
...Does that mean already anxious investors have little to fear as the Fed et al embark on QT?...
...consumers into long-term dependence on hydrocarbons....
...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....
...They look at Facebook’s past five years and its attempts — frequently belated, often ambiguous — to deal with the way that state actors (Russia et al), hoodlums (such as the Proud Boys), politicians (a list...
...The Federal Reserve, it appears, is going to tighten with total predictability and imperceptible gentleness; inflation will be transient; Evergrande et al will not sink the Chinese economy; lions will lie...
...Surely Zuck et al can make money — serious money — out of messaging software with two billion users. I disagree on the Metaverse, though. It is not “free”....
...For example, in a 2010 opinion (Chevron Corp v Steven Donziger, et al) handed down from the US district court in Manhattan, the judge wrote that the “evidence at trial established that Donziger, a New York...
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