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)....
...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....
...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....
...Everyone expects Jay Powell et al to say “no rate increase today, but maybe in a month”....
...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....
...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....
...In the US, at least, mom-and-pop investors and advisers build portfolios with the categories used by Morningstar et al....
...However, green ambitions face stiff resistance from fossil fuel companies....
...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....
...Or more specifically, did an old post from Jamie Powell help bring about the deathly squeeze on Melvin Capital et al?...
...Weak bank boards, poor risk processes and insufficiently robust risk committees allowed the balance sheets of Northern Rock, HBOS et al to expand unsustainably....
...Former US vice-president Al Gore and financier David Blood are launching a climate change asset manager that will largely focus on private markets....
...The problem is particularly acute in big firms, according to a 2003 paper by Moeller et al, which found that takeovers in the preceding 20 years had destroyed some $226bn of shareholder wealth....
...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...
...The global community should be looking to rest, adjust or trim the ways things are, on a regular basis otherwise there will be imbalances allowing Trumps et al to garner support to deal with greater accrued...
...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....
...al, with just $9bn on legacy oil and gas....
...According to a recent NBER paper by Francesco Bianchi et al, the average short term effect of each tweet has been to reduce forward interest rates by 0.28 basis points, implying that the effect of all the...
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...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...
...This finding is also in line with previous literature on the subject (Yoshikawa et al., 1995; Pras et al., 2009; Pras & Guostavino, 2010)....
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