Hints and tips:
...Red-state treasurers blacklisted big financial groups including BlackRock, Goldman Sachs, State Street and Wells Fargo....
...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....
...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....
...Look out the first of the large financial groups reporting their results, including JPMorgan, Citi, State Street, Wells Fargo and BlackRock on Friday....
...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....
...They followed the Pinault family of Ch Latour et al, who, in 2013, bought what is now called The Eisele Vineyard from the Araujos, and were so confident of their savoir-faire that they didn’t even impose...
...The Wells Fargo Investment Institute has five hot ideas for your portfolio this year....
...More seriously, Goetzman et al argue that art price changes are largely a function of wealth concentration....
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...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....
...Fargo Q3 World events Finally, here is a rundown of other events and milestones this week....
...The context for that was the turmoil around Silicon Valley Bank, et al....
...Earnings at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup were up 23 per cent. By contrast profits at all other institutions dropped by an average 19 per cent in the quarter....
...Shares of big banks swung higher, with JPMorgan and Wells Fargo each up more than 2.5 per cent, among the best performers in the S&P 500. The session rally in US Treasuries eased slightly....
...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)....
...and inflation go hand in hand Bouchaud et al. find that when people trust an “active” central bank, reining in inflation is the outcome of trust, not interest rates....
...A classic doom loop, in other words. But as Goldman’s Praveen Korapaty et al point out, the US government bond market has been pretty choppy for a while now....
...Saudi football club Al Hilal has approached Qatar-owned Paris Saint-Germain with a €300mn bid to sign Kylian Mbappé, a record-breaking offer for the French forward....
...Results: BlackRock, Citigroup, JPMorgan Chase, PNC Financial Services, UnitedHealth and Wells Fargo all report today. One more thing: Our new Central Banks newsletter launches next Tuesday....
...Three other mega caps — Bank of America, Wells Fargo and Morgan Stanley — are among the largest 10 banks in the world by market value....
...As Isabella Weber et al have written, energy is along with food one of the most “systemic” components of inflation....
...The tests showed that all of the banks tested, including Bank of America, Citigroup, State Street and Wells Fargo, would meet minimum capital requirements despite projected losses of $541bn....
...Plus if you really miss Brian Cox et al, you can slowly flick through the archive photographs while humming a haunting piano theme....
...strikes, car and credit card loan delinquencies, et al)....
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