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....
...Citi analysts say that logistics, self-storage and some residential assets should fare better than traditional office space. “A lot of funds and investors are very hungry for deals . . ....
...Of its €114bn of residential loans outstanding, 73 per cent were variable rate loans at the end of last year, according to the Spanish Mortgage Association....
...Citi sees a risk that volumes drop by a quarter to a third, with a knock-on effect for overall sentiment....
...“These are rates that I think are likely to be much more of a headwind and indeed we’re seeing the housing market slow,” says Nathan Sheets, chief economist at US bank Citi....
...The sell-off has seen it leave markets including Mexico and Australia, where NAB picked up Citi’s residential Aussie business for A$1.2bn in June....
...”, Citi’s digital payments service, treasury and trade solutions....
...DD agrees that it may be more realistic for Citi to climb at its own pace rather than risk falling in a frantic race to the top....
...Prices of newly constructed residential buildings in Wuhan have risen 6 per cent in the past year....
...Other initiatives include a recently confirmed plan to become a big residential landlord. Lloyds’ positive results were echoed at several smaller banks on Thursday....
...Analysts at Citi said the trading update was “encouraging” and upgraded their forecasts for 2021 profits by 10 per cent to £669m....
...Hey Citi, your bitcoin report is embarrassingly bad One of the world’s top investment banks put out a report that is causing a stir....
...Bank of England data showed a V-shaped recovery in mortgage approvals in July....
...That has wiped out a combined $987bn in shareholder value, Citi data shows....
...(Billy Nauman) Citi launches silo-busting ESG unit Citi has established a new internal group that will lead its sustainability efforts across its global banking, capital markets and advisory divisions....
...Few economists are projecting rapid “V-shaped” recoveries and more pain is expected when government support schemes wind down in the autumn....
...“This was probably the biggest risk facing the Spanish banking sector,” said Stefan Nedialkov at Citi....
...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....
...On the UK, it is worth noting that gross lending was c.£9bn in 1H20, with 55% of lending originated by intermediaries (47% in FY19); 90+day mortgage delinquencies were 0.23% (up from 0.16% one year ago);...
...For instance, earlier this month, the Dutch central bank announced that it would make banks hold additional capital against residential mortgages, increasing their requirements by about €3bn....
...Citi cites the former’s “high exposure to uncontracted volumes and an increasing likelihood that the business will need to do a rights issue”....
...Citi downgrades AB Foods and Marks & Spencer in a retail note....
...Global GDP is set to contract the most since WWI in Q2, but amid surging money supply and rising saving rate, depressed base effects should lead to a v-shaped recovery into Q3....
...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....
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