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....
...At 4:16 pm ET, Passi responded to the BWIC with Morgan Stanley’s bid of $54.35 per share for 4.5 million MEDP shares, and at 4:18 pm ET Morgan Stanley’s bid was accepted....
...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)....
...Job moves Blackstone has appointed Thomas Nides, a former vice-chair at Morgan Stanley and US ambassador to Israel, to be a vice-chair of strategy and client relations....
...say Jonas et al. Yes it can! Look! And look! And look! That’s Tesla on an EV of 28.3 times 2025 ebitda, per Morgan Stanley forecasts, which is more expensive than Nvidia’s 25.3 times ebitda....
...The context for that was the turmoil around Silicon Valley Bank, et al....
...Everyone expects Jay Powell et al to say “no rate increase today, but maybe in a month”....
...— 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...
...Goldman Sachs’ capital levels fell the most among the banks based in the US, followed by Morgan Stanley....
...Isn’t it high time the regulators increased oversight on Blackstone and Apollo, et al, as this relatively new and powerful group of financial titans continue their march to the top of the heap on Wall Street...
...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....
...To put it more simply: Jiang et al argue there are $2.2tn in mark-to-market losses out there, and there is only $2.2tn in equity in the US banking system....
...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....
...Does that mean already anxious investors have little to fear as the Fed et al embark on QT?...
...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....
...That sounds like a reasonable expectation to have after Fed Chair Jay Powell doubled down on his hawkish tone at Jackson Hole last week....
...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....
...There is for sure a debate to be had about when the Federal Reserve et al should have pivoted their stance more forcefully to tackle inflationary pressures, and what they should and shouldn’t do now....
...Or more specifically, did an old post from Jamie Powell help bring about the deathly squeeze on Melvin Capital et al?...
...Former US vice-president Al Gore and financier David Blood are launching a climate change asset manager that will largely focus on private markets....
...[Jay Powell] had an opportunity to use stronger language, and he didn’t As evidence, Al-Hussainy points to Eurodollar spreads, which reflect the anticipated interest rate on international US dollar deposit...
...Trump et al v....
...Federal Reserve chair Jay Powell warned that the pandemic still had the capacity to derail the country’s economic comeback....
...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....
...Mike Wilson, chief US equity strategist at Morgan Stanley, said the majority of investors were too pessimistic....
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