Lending standards continued to tighten for most loan categories in Q2, according to the Senior Loan Officer Survey (SLOOS). US banks reported tightening lending standards to businesses and all CRE categories. They kept…
Equity investors have been skittish about mid-cap banks ever since Silicon Valley Bank failed in March 2023. The S&P MidCap 400 Regional Banks Index remains 4% below its February 2023 high while the S&P 500 Diversified…
Total consumer credit rose by USD 11.4 billion in May (to USD 5,065 billion outstanding) from a slightly upwardly revised USD 6.5 billion increase in April, surpassing expectations of a smaller increase. Notably, revolving credit…
Second quarter earnings season began for US public companies on Friday as JPMorgan (JPM), Citigroup (C) and Wells Fargo (WFC) reported their results before the open. (BAC, the other commercial bank SIFI (systemically important…
Second-quarter earnings season unofficially kicks off before the open on Friday, when Citigroup (C), JPMorgan (JPM) and Wells Fargo (WFC) report their results for the June 30 quarter. Bank of America (BAC), the other commercial…
Generative AI-related rally resumed in May. Much of the recent market gains are down to excess liquidity that was begotten by the massive pandemic stimulus, creating a dichotomy between multiple economic challenges and exuberant…
Bank OZK (ticker: OZK) ended Wednesday’s session down over 14%, following a double downgrade from buy to sell by an analyst who raised concerns about loans on two specific development projects. OZK is known for its…
Bank OZK (ticker: OZK, née Bank of the Ozarks) declined nearly 17% at its low on Wednesday, following a double downgrade from buy to sell by an analyst that also slashed his price target for the stock by a third. The…
The economic schism in the world economy, between the non-US developed economy in recession and the US in strong growth, is unprecedented during our lifetimes. Now the schism will continue in reverse, as the non-US developed economy…