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....
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...It’s not going to be debt holders, which are the Fed and the Federal Home Loan Bank of San Francisco. They are secured creditors who hold collateral against their loans....
...’s successful bid to offer taxpayer-backed Covid loans....
...The pandemic period has also been one of growing inequality in global wealth....
...The Federal Reserve, it appears, is going to tighten with total predictability and imperceptible gentleness; inflation will be transient; Evergrande et al will not sink the Chinese economy; lions will lie...
...Alongside their private equity backers TDR they’ve created a sprawling global group that is a behemoth of Europe’s leveraged loan and junk bond markets — “the Liberty Global of petrol and retail”, as one...
...); (v) the EU taxonomy; and (vi) a possible carbon border tax....
...One Swiss bank executive says that absent such extraordinary support, banks’ loss-absorbing capital buffers “would have been like a brolly in a hurricane”....
...(NYT) News round-up Scoop: Voya Financial held talks over sale to insurance groups (FT) Santander to repay capital bond one year after spooking market (FT) Oyo business model under pressure in China...
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...Per Starr et al., a 10 per cent increase in the number of non-competes leads to 6 per cent lower wages in states that enforce the agreements versus those that do not....
...Blackstone Group, Starwood Capital, the Canadian pension fund manager Caisse de dépôt et placement du Québec and Singapore’s sovereign wealth fund GIC are among the biggest borrowers on GSE commercial loans...
...This was disproved by the trial of US v Zarrab et al, in which a Turkish banker and a gold trader were convicted of laundering Iranian oil and gas revenues....
...The SFO said in a statement: “The charges relate to Barclays plc’s capital raising arrangements with Qatar Holding LLC and Challenger Universal Ltd, which took place in June and October 2008, and a $3bn...
...First, Brunnermeier et al use ESBies as a way to deny joint liability among sovereigns....
...Mr al-Husseiny and Mr al-Qubaisi were dismissed from IPIC and Aabar last year....
...Its Dh1.2bn campus is home to 2,500 students and should hold twice that many by 2020....
...For a company like Rural that is traded on a major exchange, ―[t]urnover measured by average weekly trading of . . . 1% would justify a substantial presumption‖ of market efficiency. 5 Bromberg et al., Bromberg...
...But unlike Mr Terry et al, Mr Austin remains the beneficial owner and gets to vote his shares and reap the dividends. IGas’s shares tumbled 24 per cent last week....
...On if, and by how much, rates will move up, with our emphasis: A recent study done by researchers at the Hong Kong Institute of Monetary Research (Dong He et al 2013) suggests that China’s real “equilibrium...
...That figure pales against the total value of the US housing market – $23.7tn at the end of 2012, according to Zillow – but it could grow exponentially if Blackstone et al are able to get their hands on cheap...
...(Financial Times) US vulture funds swoop on Co-op debt: “Aurelius Capital Management and Silver Point Capital are understood to have built the stake in one set of the bank’s loans, putting them in a strong...
...No surprise to see GMO et al flag up “impact on third parties” from the start....
...Outside the EU, Russia, Turkey et al. are also vulnerable to “optimisation of risk-weighted assets,” to use the euphemism plastered all over eurozone banks’ Q3 results presentations....
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