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, even more interesting (and counter-intuitive) is Rogoff et al’s failure to find a statistical correlation between real rates and fundamental economic trends....
...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)....
...Fed chair Jay Powell suggested at yesterday’s press conference that rates were probably at or near their peak for this tightening cycle. We also got projections from Fed officials about rate cuts....
...Lucy Powell, shadow leader of the House of Commons, is discussing with each policy team whether their main proposals need legislation and, if so, how urgently they would need to be prioritised....
...Thereafter it’s a whistle-stop tour through Wilde, Evelyn Waugh, Agatha Christie, Judy Garland et al, interspersed with touches of memoir, such as Baker’s Nanna Betty with her crocheted-doll toilet-roll...
...Ed Al-Hussainy, our regular correspondent, expects one more 25bp rate increase, framing the move like this: “Will another hike be material to the inflation outlook? No....
...Other buys have included UK cosmetics maker Charlotte Tilbury and cult Swedish brand Byredo, as well as Jean Paul Gaultier and Dries Van Noten....
...When Tennant and Beaton et al were having their elaborate costume parties, elegance as much as decadence was everything....
...Paul McNamara is an investment director at GAM Investments There’s a fellow called Telfer who makes more pork pies than anybody else in the bloody world, old boy....
...The context for that was the turmoil around Silicon Valley Bank, et al....
...— having the upper half of your house set on fire and be destroyed is bad— having your whole house set on fire, igniting the huge fireworks stash in your basement, is significantly worse Or, as Beutel et...
...Plus if you really miss Brian Cox et al, you can slowly flick through the archive photographs while humming a haunting piano theme....
...Saudi Arabia is far from hanging up its jersey Yasir al-Rumayyan has had a busy few seasons....
...Everyone expects Jay Powell et al to say “no rate increase today, but maybe in a month”....
...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....
...Nor is Saudi Arabia’s ruling family, the al-Saud....
...The biggest motor insurers in the UK, for example, are the same ones that were around a decade or two ago — Aviva, Admiral, Direct Line et al. It is a similar story in the US....
...The hard question (as Unhedged’s friend Ed Al-Hussainy of Columbia Threadneedle emphasises) is whether the Fed really chooses near-zero rates — or is forced into them, instead....
...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....
...Gain: headlong action brio and a cast of overnight Hollywood stars-to-be (McQueen, Bronson et al). Loss: length, character complexity and the loving build-up of an epic momentum....
...There are three bedrooms and 465 sq m of land, including a terrace for al fresco entertaining....
...In the early days after the invasion, Zahawi worked out of a small, dusty office in the same wing of the palace as Paul Bremer, head of the occupying authority....
...In the case outlined by Haddad et al, Goltz said investors were buying a stock “even though the price has gone up”, so demand is more inelastic and “you can have additional volatility from shifts in demand...
...As Lord David Pannick QC et al observed in a letter to the Times this week the doctrine of necessity requires “grave and imminent peril” to which the state in question has not contributed....
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