Hints and tips:
...Companies in Wall Street’s benchmark S&P 500 index spent $175bn buying back shares in the three months to June, according to preliminary data from S&P....
...Earlier data increases our economists conviction in a V-shaped recovery: Economic data in aggregate have continued to surprise to the upside, building our confidence in a V-shaped recovery....
...Implied S&P 500 volatility surged beyond 25, a level the Vix last frequented in late 2018....
...A significant part of our decision to get more bullish in late March was based on our ERP analysis which showed the S&P 500 was trading at the same elevated level (700bps) reached in March 2009....
...Since we last met the FTSE 100 is up 3.6 per cent, the Stoxx 600 is better by 3.8 per cent and the S&P 500 is 1.7 per cent to the good. Why?...
...In s case of a no deal Brexit we should expect the Bank of England to be buying credit. David Page: The Bank of England has material scope to increase the quantity of its QE purchases in 2021....
...A V-shaped recovery in kneecaps isn’t in the price, they say....
...RTN has a £220m bank facility and a £225m bond (relating to Wagamama). There is no covenant on the bond debt, other than paying the interest....
...its banks .….but its shares haven’t....
...Here’s a table of day-two S&P rallies, stalled or otherwise, from Cornerstone Macro: ... which also notes how windy it is out there: Apologies if we didn’t reach your request....
...buying through the forecast downgrades based on a top-down forecast of modest earnings attrition in a V-shaped recovery scenario underpinned by central bank action and with balance sheets that are much...
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...When he asked his bank to delay loan repayments it refused, saying it has a limited quota for repayment delays....
...GILD shares were up 8% in pre-market trading (now +3% vs S&P 500 2%), and as we have noted, remdesivir doesn’t really add much to our DCF....
...At c30x P/E, we do not feel valuation fairly reflects these risks and thus downgrade to Sell with a GBp385 price target, suggesting c30% downside from current levels....
...pretty stable macro backdrop; iv) capital build of 170-200bps p.a. as per previous guidance (though guidance for FY19 was for the lower end of that range, so this is a slight upgrade); and v) Statutory RoTE...
...Relative forward P/E of software v semis, commercial & professional services v capital goods and C&P v transportation Bank of England stuck on hold — On Thursday there was consensus among UK policymakers...
...As well, over 50 companies in the S&P 500 have already suspended their share repurchase programs, which accounted for over 25% of buybacks in 2019....
...And Goldman: [S]maller commercial banks stand to benefit most from TFSME, as the scheme lowers their average cost of funding and gives them the ability to compete in lower margin segments such as mortgages...
...(Gillian Tett) The chiefs doing (personally) well by doing good There are some eye-catching figures in today’s report on US executive pay trends from the Conference Board, not least that the median S&P...
...Tokyo’s Topix index was up 0.3 per cent while Sydney’s S&P/ASX 200 was flat as the mining segment offset gains elsewhere. Hong Kong’s Hang Seng index was 0.2 per cent lower....
...Pay for bankers and executives is a fraction of that in the S&P 500. That leads back to a theme of Mr Vogel’s 1979 analysis: the behaviour of Japanese companies....
...That time around, the broad S&P 500 fell by about 17 per cent from its pre-election high in early September to its post-election low, note analysts at Credit Suisse: Although we think it would take something...
...Investors in the US can turn to the CBOE’s Vix, a gauge of implied S&P 500 volatility....
...commodity prices, so the impact might be more limited....
International Edition