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....
...However, Weinstein et al say they are excited to a large extent because those aforementioned risks are now materialising. As private credit investors, this is the environment we’ve been waiting for....
...Today’s top stories The US Federal Reserve announces its decision on interest rates at 2pm ET/7pm London today. Check back here for details and reaction....
...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....
...Arnott et al estimate that stocks ejected from the S&P 500 actually outperformed new entrants by an average of 2,200 basis points in the year after the index rejig (FTAV has written about the index inclusion...
...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....
...In the communications sector, the video entertainment companies (Warner Bros Discovery, Paramount, Disney, Netflix et al) explain the bulk of the outperformance....
...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?...
...But even in the face of this poignant example, the Chan et al/Verdad view is very hard for a person like me to accept....
...It is also very important. And Bill Gross has some thoughts on it. In the US, at least, mom-and-pop investors and advisers build portfolios with the categories used by Morningstar et al....
...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...
...against Donald Trump and family For up-to-the-minute news updates, visit our live blog Need to know: the economy The US Federal Reserve announces its decision on interest rates today at 2pm ET (7pm London...
...Weak bank boards, poor risk processes and insufficiently robust risk committees allowed the balance sheets of Northern Rock, HBOS et al to expand unsustainably....
...Or more specifically, did an old post from Jamie Powell help bring about the deathly squeeze on Melvin Capital et al?...
...Caisse de dépôt et placement du Québec (CDPQ), the C$400bn global investment group, told my colleague Josephine Cumbo that the UK stood out because of its “pro business” stance....
...Trump et al v....
...Burford got out of its funding arrangement with Donziger et al after it had already put up $4m. “Chevron” had been part of its portfolio....
...al, with just $9bn on legacy oil and gas....
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...(Incidentally, for my money, Cronenberg’s scuffed aesthetic has dated at least a little better than the gleaming postmodernism of Neo and Trinity et al.)...
...And, as lockdown measures are softened, the return of the likes of Gregg's, Starbucks et al to the UK FtG market will increase competition....
...There’s not much precedent to support the idea that Shina et al can walk away based on a MAC clause: WPP was forced against its will to buy Tempus in 2001, Guy Hands couldn’t scrap a bid for East Surrey...
...Many French cinema owners, who are putting pressure on Cannes to resist Netflix et al, see the streamers’ disruptive attitude as an incursion into their territory....
...Gylfason et al (1999) found an inverse correlation between a country's economic growth and the size of its primary sector....
...Here’s a chart from a 2019 paper by Michael Rosenfeld et al. to demonstrate: Note the spike in “met in bar or restaurant” alongside the spike “met online”....
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