Posts filed under “Analysts”

QE & Ultra-low Interest Rates: Distributional Effects + Risks

QE mck
Source: McKinsey & Company

 

 

McKinsey has a new study out on the impacts of QE. I have yet to read the full report (or summary) but the graphic above and excerpt below give you some flavor:

The impact that ultra-low interest rates have had on banks has been mixed. They have eroded the profitability of eurozone banks, resulting in a cumulative loss of net interest income of $230 billion between 2007 and 2012. But banks in the United States experienced an increase in effective net interest margins and a cumulative increase in net interest income of $150 billion. The experience of UK banks falls between these two extremes.

 

Category: Analysts, Bailouts, Digital Media, Federal Reserve

USA’s ‘AAA’ Placed on Rating Watch Negative at Fitch

This is why you don’t fuck around with the debt ceiling: “Although Fitch continues to believe that the debt ceiling will be raised soon, the political brinkmanship and reduced financing flexibility could increase the risk of a US default.” “Although the Treasury would still have limited capacity to make payments after Oct 17th it would…Read More

Category: Analysts, Credit, Really, really bad calls

Replacing Ratings

Category: Analysts, Think Tank

Kelly Evans Slaps Morgan Stanley’s Adam Parker

Category: Analysts, UnGuru, Video

Reagan’s Million-Jobs Month Revisited

* Sigh.* @TBPInvictus here I see once again that the canard about Reagan’s million-jobs-month is making the rounds: “Reagan’s best job month garnered the very top ranking since WWII with 1,114,000 jobs added in September 1983. A single month with more than a million jobs added. So far Obama can only wish for such a…Read More

Category: Analysts, Cognitive Foibles, Data Analysis, Financial Press, Really, really bad calls

Curse of the Macro Tourists

Scene: Dinner, Monday night Dramatis Personae: party of 8, including Fed staffer, Fund manager, VC, Trader, Media, et. al. (Notably absent were economists of any flavor, though some were present for pre-dinner drinks). Discussion: Post-mortem of Bernanke Q&A at press conference, how & when the Fed unwinds, whether the economy is strong enough to withstand…Read More

Category: Analysts, Apprenticed Investor, Investing, Psychology

Time for an important lesson with someone else picking up the tuition costs: It is the Meredith Whitney story, and it is instructive to those of us who work in finance and occasionally engage the media. Any of you who might think an outrageous call is the way to achieve lasting fame and fortune on…Read More

Category: Analysts, Credit, Really, really bad calls

US vs Canadian Bank Regulations: Money Boo Boo

Internal e-mails implicate credit rating agencies in the 2008 financial crisis.

Money Boo Boo

Monday June 24, 2013 (04:33)

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Jason Jones teaches regulation-loving Canadian bankers the advantages of harmless free-market fun.

Money Boo Boo – The Canadian Banking System

Monday June 24, 2013 (05:49)

Category: Analysts, Bailouts, Derivatives, Humor, Really, really bad calls, Regulation, Television, Video

World’s Shortest Analyst Report

      Hat tip Mike P  

Category: Analysts, Trading

Analysts Are Not Paid to Make Stock Recommendations

Source: SSRN, Motley Fool   News flash: Analysts exist to generate investment banking business and trading commissions; they are not here to assist you in making stock buys or sells. That is the conclusion of a recent study, but let’s be blunt: If you have been paying attention, you probably already knew this. At this…Read More

Category: Analysts, Investing, Trading