In today’s briefing:
- Ohayo Japan | A Quieter Week Ahead
- US Bank HFD – CRE Loans Down A Lot, CRE Loan Growth Can Worsen Much More, Smaller Banks Exposed
Ohayo Japan | A Quieter Week Ahead
- Hopes of easing inflation supported a weekly rise of 1.6% for the S&P 500 and 3.2% for the Nasdaq.
- Sakana AI, founded in July 2023 by ex-Google researchers and a former Japanese official, is set to raise $125 million at a $1.1 billion valuation, becoming Japan’s fastest unicorn
- Kirin Holdings plans to acquire additional shares of FANCL Corporation through a tender offer and share warrants to make FANCL a wholly-owned subsidiary
US Bank HFD – CRE Loans Down A Lot, CRE Loan Growth Can Worsen Much More, Smaller Banks Exposed
- New HFD shows CRE loan decline in the most recent week sizeable, a greater decline than in any week so far this year
- Risk aversion and demand will be drivers, and still CRE loan growth now at -2.4% YoY can see this rate of contraction far lower
- Credit costs are the key concern for banks (risk weightings can too be an issue), where smaller banks are infinitely more exposed than the largest US banks
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