Podcast of business and financial stories, Behind the Money

Behind the Money

Podcast of business and financial stories

From hostile takeovers to C-suite intrigue, Behind the Money takes you inside the business and financial stories of the moment with reporting from Financial Times journalists around the world.

Thematic (Sector/Industry)

<ul><li>Uncertainty around Trump administration's policies, including deregulation and potential impacts on banking and the economy, may create challenges and opportunities for the banking sector in the next four years</li><li>The US banking sector is expected to remain strong and dominant, with potential growth for top banks like JP Morgan and Wells Fargo.</li><li>The future of banking may see a divide between larger, stronger banks and fewer smaller institutions, with potential changes in the private credit sector.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Uncertainty around Trump administration's policies, including deregulation and potential impacts on banking and the economy, may create challenges and opportunities for the banking sector in the next four yearsThe US banking sector is expected to remain strong and dominant, with potential growth for top banks like JP Morgan and Wells Fargo.The future of banking may see a divide between larger, stronger banks and fewer smaller institutions, with potential changes in the private credit sector.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

What Trump’s presidency means for banking

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

<ul>
<li>For the week ending 22/Nov, US crude inventories fell by 1.8m barrels, beating expectations of a 1.3m barrel decrease. However, gasoline and distillate stocks rose more than expected.</li>
<li>US natural gas inventories fell by 2 Bcf for the week ending 22/Nov, missing analyst expectations of a 4 Bcf decline. Inventories are 7.2% above the 5-year seasonal average.</li>
<li>Analysts raised their 12-month price targets on Chevron while trimming their targets for Exxon and Occidental. Both JP Morgan and Morgan Stanley reiterated their Overweight ratings on Reliance Industries.</li>
</ul>


For the week ending 22/Nov, US crude inventories fell by 1.8m barrels, beating expectations of a 1.3m barrel decrease. However, gasoline and distillate stocks rose more than expected.
US natural gas inventories fell by 2 Bcf for the week ending 22/Nov, missing analyst expectations of a 4 Bcf decline. Inventories are 7.2% above the 5-year seasonal average.
Analysts raised their 12-month price targets on Chevron while trimming their targets for Exxon and Occidental. Both JP Morgan and Morgan Stanley reiterated their Overweight ratings on Reliance Industries.


[ETP 2024/48] WTI Falls on Easing Middle East Tensions, Henry Hub Moderates on Ample Supply

<ul>
<li>For the week ending 11/Oct, US crude inventories decreased by 2.2m barrels, diverging from expectations of a 1.8m barrel build. Additionally, gasoline and distillate stockpiles also declined more than anticipated.</li>
<li>US natural gas inventories rose 76 Bcf for the week ending 11/Oct, lower than analyst expectations of an 80 Bcf buildup. Inventories are 4.6% above the 5-year seasonal average.</li>
<li>Halliburton, Schlumberger, and Occidental’s target prices were cut. Notably, analysts kept their Buy ratings on Reliance despite its net profit falling by 4.8% YoY.</li>
</ul>


For the week ending 11/Oct, US crude inventories decreased by 2.2m barrels, diverging from expectations of a 1.8m barrel build. Additionally, gasoline and distillate stockpiles also declined more than anticipated.
US natural gas inventories rose 76 Bcf for the week ending 11/Oct, lower than analyst expectations of an 80 Bcf buildup. Inventories are 4.6% above the 5-year seasonal average.
Halliburton, Schlumberger, and Occidental’s target prices were cut. Notably, analysts kept their Buy ratings on Reliance despite its net profit falling by 4.8% YoY.


[ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

<ul>
<li>Weekly HFD for large US banks are turning positive in several areas, making the mosaic even stronger than if just as single series were improving</li>
<li>Loan growth for the largest US banks is now positive even if low, but moving from a negative rate of growth, the trajectory is a steady improvement</li>
<li>Loan loss reserves growth is lowering, suggesting bettering LGD and PD while large time deposit growth is down substantially, improving liquidity risk (which can impact credit)</li>
</ul>


Weekly HFD for large US banks are turning positive in several areas, making the mosaic even stronger than if just as single series were improving
Loan growth for the largest US banks is now positive even if low, but moving from a negative rate of growth, the trajectory is a steady improvement
Loan loss reserves growth is lowering, suggesting bettering LGD and PD while large time deposit growth is down substantially, improving liquidity risk (which can impact credit)


US Banks - Strong Weekly Balance Sheet Figures for Loans, Loan Loss Reserves and Time Deposits

Equity Bottom-Up

<ul>
<li>BP’s revenue is expected to rise 7% QoQ but fall 5% YoY while EPS is anticipated to drop 7% QoQ and 19% YoY.</li>
<li>Management projected lower upstream production for Q3 compared to Q2, including in high-margin regions. However, retail fuel sales are expected to increase on stronger seasonal demand.</li>
<li>In 2023, BP allocated over 30% of its total expenditure to charging stations, biofuels, hydrogen fuels, and fuelling stations, a significant rise from just 3% in 2019.</li>
</ul>


BP’s revenue is expected to rise 7% QoQ but fall 5% YoY while EPS is anticipated to drop 7% QoQ and 19% YoY.
Management projected lower upstream production for Q3 compared to Q2, including in high-margin regions. However, retail fuel sales are expected to increase on stronger seasonal demand.
In 2023, BP allocated over 30% of its total expenditure to charging stations, biofuels, hydrogen fuels, and fuelling stations, a significant rise from just 3% in 2019.


[Earnings Preview] BP Faces Prolonged Margin Pressure in Q3 2024 Amid Lower Oil Prices

United States

Citigroup Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers. The Company services include investment banking, retail brokerage, corporate banking, and cash management products and services. Citigroup serves customers globally.

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Citigroup Inc (C US)

What Trump’s presidency means for banking

Uncertainty around Trump administration's policies, including deregulation and potential impacts on banking and the economy, may create challenges...

Behind the Money

[ETP 2024/48] WTI Falls on Easing Middle East Tensions, Henry Hub Moderates on Ample Supply

US crude stocks fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories missed expectations. Analysts raised PTs...

Mint Finance

[ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook

US oil inventories see a surprise fall, while US nat-gas stock rises less than expected. Chevron sees a target price upgrade while HSBC expects a...

Mint Finance

US Banks - Strong Weekly Balance Sheet Figures for Loans, Loan Loss Reserves and Time Deposits

The largest US banks by assets are showing HFD that is increasingly positive for loan growth, loan loss reserves growth and large time deposits...

Daniel Tabbush

[Earnings Preview] BP Faces Prolonged Margin Pressure in Q3 2024 Amid Lower Oil Prices

BP expects a slight QoQ decline in upstream production, including high-margin regions in Q3, but anticipates stronger retail sales from seasonal...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

What Trump’s presidency means for banking

Uncertainty around Trump administration's policies, including deregulation and potential impacts on banking and the economy, may create challenges...

Behind the Money

[ETP 2024/48] WTI Falls on Easing Middle East Tensions, Henry Hub Moderates on Ample Supply

​US crude stocks fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories missed expectations. Analysts raised PTs...

Mint Finance

[ETP 2024/42] WTI Falls as Supply Disruption Fears Subside, Nat-Gas Slides on Weaker Demand Outlook

​US oil inventories see a surprise fall, while US nat-gas stock rises less than expected. Chevron sees a target price upgrade while HSBC expects a...

Mint Finance

US Banks - Strong Weekly Balance Sheet Figures for Loans, Loan Loss Reserves and Time Deposits

The largest US banks by assets are showing HFD that is increasingly positive for loan growth, loan loss reserves growth and large time deposits...

Daniel Tabbush

[Earnings Preview] BP Faces Prolonged Margin Pressure in Q3 2024 Amid Lower Oil Prices

BP expects a slight QoQ decline in upstream production, including high-margin regions in Q3, but anticipates stronger retail sales from seasonal...

Mint Finance

US crude stocks fell more than expected, but gasoline and distillate stocks rose. Natural gas inventories missed expectations. Analysts raised PTs...

US oil inventories see a surprise fall, while US nat-gas stock rises less than expected. Chevron sees a target price upgrade while HSBC expects a...