Hints and tips:
...Among large banks, only Wells Fargo has grown assets as fast over the past two decades, and its growing pains are well known. Some regionals have grown faster, but off much smaller bases....
...Of course, O’Neill et al were mostly talking about these countries as burgeoning economies with tons of potential. And many of these countries have indeed subsequently done well....
...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....
...Wherever possible lies should be told about classes of people (Republicans, elites, big business, the media, et al) not specific individuals....
...Still, the study by Subramanian et al should remind us why we care about globalisation....
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...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)....
...But as Goldman’s Praveen Korapaty et al point out, the US government bond market has been pretty choppy for a while now....
...(New Yorker) — Erik Brynjolfsson et al paper on using generative AI in customer support (NBER)...
...The context for that was the turmoil around Silicon Valley Bank, et al....
...As Isabella Weber et al have written, energy is along with food one of the most “systemic” components of inflation....
...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....
...CC Pakistan et al....
...These do not include the country’s financial elite, nor the small group that controls the bulk of our media....
...The recent rise of the Faangs, et al, looks like a knee-jerk reaction to the fall in rates and rate expectations that followed the banking mess (the 10-year yield has fallen from 4-ish per cent to 3.6-ish...
...What about how concentrated the stock market gains are with Nvidia, Microsoft, Google et al? I mean, shouldn’t that weigh against this rally? What about that? Katie MartinMaybe yes....
...Here’s Citi’s Andrew Coombs et al. then: For the European banks, we see less risk of deposit flight and believe they have more liquid balance sheets....
...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....
...For their part, dealers’ non-financial customers such as exporters and importers use FX forwards to hedge trade-related payments and receipts, half of which are dollar-invoiced (Boz et al (2020))....
...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....
...The point is to be a convening place that can contribute by offering “le gîte et le couvert” — “a place to eat and a place to sleep” — she added....
...And for all the flaws of the current approach to equity and inclusion, Edmans et al say it does seem to be bearing some fruit: the average DEI score from their calculations has risen from 4.1 out of 5 in...
...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....
...Authors (intake of breath) Johannes Beutel, Lorenz Emter, Norbert Metiu, Esteban Prieto and Yves Schüler write that the tail risks of financial tightening are well-studied, but that: . . . the questions...
...The addition of the “+” countries (Russia, Kazakhstan, Mexico et al) to the cartel have increased its market share....
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