Kamikaze GSE Release?
Today’s correspondents of the GSEs under conservatorship may become tomorrow’s competition for private GSEs.
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The Institutional Risk Analyst
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Banks | Markets | Finance
R. Christopher Whalen
5 days ago8 min read
Fed Fiddles as Liquidity Risk Looms
Our bet is that the Bessent "3-3-3" plan likewise will be a failure and that the Fed will be forced to restart QE sooner rather than later
936 views
R. Christopher Whalen
Nov 206 min read
Profile: Bank of Hawaii & QE
The asset returns of BOH are substandard vs its peers. We cannot discern any reason for this save management lapses.
417 views
R. Christopher Whalen
Nov 187 min read
Trump, Deficits & Credit Default Swaps
As a practical matter, no Fed chairman or governor can function without the support of the White House and the US Treasury.
876 views
R. Christopher Whalen
Nov 157 min read
Update: Block Inc, Nu Holdings & Guild Holdings
Notice that SQ co-founder Jack Dorsey styles himself as "block head" in the corp roster, a silly affectation that does not help the stock
396 views
R. Christopher Whalen
Nov 136 min read
Fiat Currencies, GSEs & Presidents
Could President elect Donald Trump be facing a maxi market correction before inauguration day?
843 views
R. Christopher Whalen
Nov 115 min read
Q: Is JPMorgan Overinflated?
The banking industry has segmented into a handful of above-average performers and JPM is the largest leader of these "winners"
1,349 views
R. Christopher Whalen
Nov 65 min read
Financials: Post-Trump Victory Notes
The changes that are going to occur in Washington over the next four years will be dramatically different than during Trump I.
1,083 views
R. Christopher Whalen
Nov 18 min read
Fed Duration Trap Threatens Banks, SOMA
It’s time for the Fed to get smart on duration risk before circumstances create another money market crisis.Â
1,042 views
R. Christopher Whalen
Oct 306 min read
Is Trump Bullish for Interest Rates? Pump & Dump for GSE and Fintech Stocks
You can tell lies and damn lies about the idea of releasing Fannie and Freddie, but the SEC and FINRA cannot and will not say a word.Â
793 views
R. Christopher Whalen
Oct 289 min read
Housing Finance Outlook; PennyMac, Mr. Cooper & NYCB/Flagstar
NYCB and the unsold rent-stabilized assets left over from the failure of SBNY are two little surprises waiting for the next POTUS.
712 views
R. Christopher Whalen
Oct 237 min read
Powell Overshoots the Runway; Update: American Express & Charles Schwab
Last year, when a lot of people were predicting the demise of SCHW, we told our readers to calm down.
702 views
R. Christopher Whalen
Oct 215 min read
Will BRICS Topple the Dollar?
Whenever you hear the magic words "blockchain" and "digital tokens," it's a good guess that whatever follows is nonsense.
692 views
R. Christopher Whalen
Oct 187 min read
Update: Citigroup, Bank America and Goldman Sachs
How is Goldman going to extricate itself from this profoundly unattractive business with AAPL without destroying Apple Card?
451 views
R. Christopher Whalen
Oct 166 min read
Should TD Bank Rethink US Retail?
WFC is not even out of dodge yet, but TD has cut off the fingers of one hand in yakuza style and is now headed for years of misery
590 views
R. Christopher Whalen
Oct 145 min read
Will Rohit Chopra Kill Basel III? Shrinking NIM at JPM and WFC
In opposing Basel III, Chopra is doing the bidding of Senator Elizabeth Warren (D-MA)Â but big banks are very happy to have no rule at all.
642 views
R. Christopher Whalen
Oct 106 min read
Hurricanes, Insurance & the Cost of Risk
Many homes in FL no longer have adequate home owners insurance much less federal flood insurance.
926 views
R. Christopher Whalen
Oct 97 min read
Citigroup + (Cenlar - Black Knight) = ?
The Citi decision to exit mortgage servicing perhaps made sense in 2017, but today not so much.
411 views
R. Christopher Whalen
Oct 78 min read
Chairman Powell Jumps the Shark
The markets got their rate cut over the past six months and now may have to give some of that back.
849 views
R. Christopher Whalen
Oct 16 min read
The Bull Case for Large Banks
If you believe that there is no recession coming in 2025, what is the logical response from an informed investment professional?
605 views
Christopher Whalen
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