Hints and tips:
...Last week, Fed chair Jay Powell told a Senate hearing that commercial real estate does pose a risk to a number of small and mid-sized banks. “There will be more failures,” Powell said....
...But the data indicated that the banks on the list were either small or mid-sized lenders....
...Regional banks are essential for a competitive banking system, particularly for mid-sized business clients....
...In a worst-case scenario, they expect China’s manufacturing PMI new orders index to dip just below 50 by mid-year....
...The Resolution Foundation estimates that of the £15.8bn of higher mortgage costs projected from 2021-2026, fully three-fifths had yet to be realized by mid-2023....
...Donald Trump’s former US Treasury secretary had made a fortune rehabilitating a failed US mortgage lender after the 2008 financial crisis....
...“I am worried about the state of consumer confidence . . . you have higher interest rates, higher mortgage payments and energy prices,” he said....
...Between mid-2020 and mid-2021, Bank of America added $470bn of mortgage-backed securities and Treasuries, hoping to capture a bit of additional yield....
...AGNC Investment Corp has $51.7bn, The Starwood Property Trust manages $28.3bn, Rithm Capital has $32bn, and the Blackstone Mortgage Trust another $26.8bn....
...From the end of 2019 to mid-2022, the total value of securities, mostly Treasuries and insured mortgage bonds, at all banks rose by 54 per cent, or $2tn, and about twice as fast as their overall assets,...
...Wildfires have ripped through Canada, southern Europe and, in recent days, the Hawaiian island of Maui....
...The market value of US banks’ assets in mid-March was $2tn lower than their book value when accounting for loan portfolios held to maturity....
...The contribution from consumption to GDP growth is the highest it’s been since mid-2021. The US consumer is heaving an otherwise moribund economy along. Can it last?...
...A maestro relojero (master watch repairman), he left the island in 1998 and set up shop next to a 7-Eleven at a strip mall in Miami’s Key Biscayne neighbourhood....
...“The average homebuyer today now faces higher mortgage repayments as a share of their income than last seen at the peak of the mid-2000s boom,” said Matthew Pointon, senior property economist at Capital...
...TSMC, together with Sony, is building a $8.6bn plant in the southern island of Kyushu, and aims to hire about 1,700 workers for the facility....
...When it came to the brewing US subprime mortgage crisis, Crastes thought doomsayers were getting ahead of themselves....
...Merger arb funds have also been drawn to the $15bn deal that Intercontinental Exchange, the owner of the New York Stock Exchange, struck in May for mortgage software provider Black Knight....
...But in the real economy there are signs that consumer demand is starting to cool, particularly in the housing market which has slowed significantly under the weight of spiralling mortgage rates, which last...
...News round-up Kanye West to buy ‘free speech’ app Parler (FT) Rupert Murdoch proposes merging Fox and News Corp (FT + Lex) Credit Suisse reaches $495mn mortgage settlement with US prosecutors (FT) Bain...
...Pebble was incorporated in mid-2015, and that same year it received a €20.7mn loan from a British Virgin Islands company Velare Finance Corp....
...Or why not buy your own island, complete with villa?...
...The last financial crisis prompted a wave of mergers that created universal banks with a wide range of business lines from wealth management and retail mortgages to investment banking and trading....
...My apartment in Hong Kong’s Mid-Levels district cost HK$50m ($6.4m) but walking from one end to the other takes just 10 steps....
...These included credit card terms and conditions, and the process behind fulfilment of mortgages....
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