Global Banks – Waning Credit Cost Delta
Bank analysis is wholly different in the current environment. We believe there are three considerations now that drive bank profit: 1) vaccine, 2)...
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HSBC – Not Quintessential Recovery Bank
It is not easy to be excited about HSBC Holdings (HSBA LN) even if there are increasing signs of recovery in many areas where this global behemoth...
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Why Are Major U.S. Companies Suspending Their Share Buyback Programs?
“Any public company that receives a bailout or significant funding should not be allowed, by law, to do stock buybacks EVER AGAIN as part of their...
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US Financials: Energy Exposures Mean Boil, Boil, Toil and Trouble
After yesterday's halted trading, US banks could be due a nice bounce today as a risk-on bounce takes shape -if it does at all, or fades.US bank...
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U.S. Equity Strategy: Dramatic Improvement
Encouraging developments continue to pour in. Over the past week we have seen dramatic improvements that could be setting the stage for a...
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