U.S. Equity Strategy: Round Trip Back To Resistance
Our base case continues to be for near-term consolidation while the market determines the implications of states’ reopening (i.e., the...
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Tencent Buys a 5% Stake in Australia’s Afterpay to Accelerate Its Overseas Expansion into Payments
Afterpay, an Australian buy-now-pay-later firm, announced on 30th April that the Chinese tech-giant Tencent has become a substantial shareholder...
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Tencent – Pricey Aussie Transaction
* Small Investment Stake In Aussie Fintech Firm: Tencent (700.HK) filed a substantial notice that it took a 5% stake in Afterpay (APT.AU) via...
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SMBC Americas Holdings – Expecting 19% NPLs in USA
* Pre-COVID-19 Challenges:SMBC Americas Holdings (8316.JP) [SMBCA] had a number of challenges even prior to the impact of COVID-19, which included:...
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Japan Mega Banks – Avenue of the Americas
* All That Glitters Isn’t Gold: Structurally, the Megabank American franchises are well-capitalized, have strong credit metrics, and are reliant on...
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