Category Archives: Borrowing Costs
Anbang? Evergrande? Or Does HNA’s Bond Sale Mark The Beginning Of China’s Minsky Moment?
We know… there are several candidates to choose from. For example… It might be Anbang – the acquisitive insurance behemoth – see “Anbang Just Became A ‘Systemic Risk’: Revenues Crash As Its Chairman Is “Detained” It might be China Evergrande – the developer of “ghost” properties and described by J Capital’s, Anne Stevenson-Yang as “the […]
“Dear Fed, Hike Slower… Shrink Faster…”
Authored by Peter Tchir via Brean Capital LLC, Dear Fed, Stop with Rate Hikes and Reduce Balance Sheet We think that the Fed should focus on steepening the yield curve. That keeping short term rates constant while focusing on balance sheet reduction would benefit the most people and the economy. Effectively, it is time for […]
Big Bank Bosses Are Dumping Their Stocks As “Credit Risk Ricochets Back”
"Credit risk is ricocheting back as a legitimate concern after years of hibernation…" warns David Hendler, founder and principal at Viola Risk Advisors, who considers recent share sales by executives at the big retail banks, in particular, to be smart, as consumer portfolios are showing signs of strain. Wall Street analysts have been urging investors […]
Paul Brodsky: “Sorry, It Had To Be Said”
Submitted by Paul Brodsky from Macro Allocation Being Here “As long as the roots are not severed, all is well. And all will be well in the garden.” – Chauncey Gardner (Chance, the Gardner) This piece takes a roundhouse swing at politics, real and imagined, and discusses critical economic issues that politicians should […]
U.S. Rent Growth Flatlines As Massive Flood Of New Apartment Supply Finally Takes Its Toll
After a slow and steady march higher in the wake of the ‘great recession’ nearly a decade ago, a note today from Rent Cafe shows that average rents in the United States may have finally stalled in July at $1,350 per month after posting a paltry sequential gain of just 0.1%. Rents are still […]
Russell Clark Speaks In RealVision’s “Most Requested Interview Ever”
According to RealVision, he’s one of the greatest investors you’ve never heard of. According to us, he ran what was (formerly) the world’s most bearish hedge fund, although at the end of 2016, after suffering substantial losses, he capitulated and went flat, after closing much of his short book. To be sure, Russell Clark, and […]
Morgan Stanley Triumphs Again: Posts Higher FICC Revenue Than Goldman Sachs
After yesterday’s stunning 40% plunge in Goldman’s FICC revenue, market watchers and MS shareholders were nervously anticipating the release of today’s Morgan Stanley Q2 earnings data. In retrospect, they had no reason to be worried, because moments ago MS reported revenue and EPS which both beat expectations, with Q2 EPS of $0.87 (est $0.76) on […]