Bank Liquidity & Quantitative Tightening (QT)
A "normal" level for US bank deposits would be closer to $15 trillion than $19.9 trillion today.
top of page
The Institutional Risk Analyst
© 2003-2023 | Whalen Global Advisors LLC All Rights Reserved in All Media | ISSN 2692-1812 | Terms & Conditions
Banks | Markets | Fintech
Christopher Whalen
R. Christopher Whalen
- Jun 22, 2022
- 5 min
New Residential Pivots, Gets "Rithm"
NRZ must pay $400 million to Fortress to end the relationship with the external manager, a final act of squeezing NRZ shareholders
599 views
R. Christopher Whalen
- Jun 20, 2022
- 8 min
The Fed and Housing
Issuing CMOs via the GSEs could help the FOMC out of its trading mess, but represents a monumental irony.
1,441 views
R. Christopher Whalen
- Jun 15, 2022
- 5 min
Update: US Banks Post-QE
Even as the FOMC raises interest rates, we caution our readers to be prepared for disappointment from banks near term
401 views
R. Christopher Whalen
- Jun 12, 2022
- 7 min
QE = Supranormal Credit Risk
Given the demand for safe assets, the true risk free rate today is probably less than zero. Ponder that Chairman Powell
550 views
R. Christopher Whalen
- Jun 9, 2022
- 8 min
Interest Rates and Residential Mortgage REITs
We see an at least equal chance that margins will get squeezed for agency and MSR investors before they expand via higher interest rates
597 views
R. Christopher Whalen
- Jun 6, 2022
- 6 min
Memo to Gary Gensler: Beware the “Non-Controlling Interest”
As a result of the adoption of "artificial intelligence," the 21st Century investor is mostly a victim in waiting.
1,106 views
R. Christopher Whalen
- Jun 2, 2022
- 7 min
Update: Upstart Holdings & Cross River Bank
If investors and partner banks don’t want to buy UPST loans at current market rates, then the game is over in an originate to sell model
531 views
R. Christopher Whalen
- Jun 1, 2022
- 3 min
Labor Day Fishing at Leen's Lodge
By the end of August, the bugs are gone but the fish are still biting, making for a perfect way to end the summer.
419 views
R. Christopher Whalen
- May 31, 2022
- 6 min
QT Means Short Credit Risk
Market risk realized today becomes credit risk tomorrow...
1,217 views
R. Christopher Whalen
- May 29, 2022
- 2 min
The IRA Bank Book | Outlook Q2 2022
The sharp rise in bank stocks in 2021 coincided with a surge in operating income due to COVID. Now we reverse that trend in 2022...
397 views
R. Christopher Whalen
- May 25, 2022
- 9 min
FOMC vs TGA; PennyMac Financial & United Wholesale Mortgage
Net, net, the dynamics in the market are actually forcing interest rates down
619 views
R. Christopher Whalen
- May 23, 2022
- 7 min
Equity Market Valuations & Quantitative Tightening
The reduction in the Fed's balance sheet is the largest ever margin call on equity exposures of all descriptions.
973 views
R. Christopher Whalen
- May 18, 2022
- 6 min
Update: Crypto Frauds and Fintech Dreams
Q: What do Elon Musk and Masayoshi Son have in common? Gigantic margin loans...
500 views
R. Christopher Whalen
- May 16, 2022
- 7 min
Interview: Dan Sogorka of Sagent Lending Technologies
The new technology that powers the Sagent-Cooper vision for servicing is already proven in the market
573 views
R. Christopher Whalen
- May 13, 2022
- 5 min
Feldkamp: Paul Volcker, Volatility, Inflation & Honesty
Benevolence, as Chris and I noted in our book "Financial Stability," always gets you more bang for the buck than being miserable.
464 views
R. Christopher Whalen
- May 11, 2022
- 8 min
Does ICE + Black Knight = Shareholder Value?
ICE buying the revenue streams represented by BKI is a big bet on yesterday, not a bold initiative to change the mortgage industry
439 views
R. Christopher Whalen
- May 8, 2022
- 8 min
Chairman Powell's Duration Problem
Chairman Powell’s demeanor during the press conference when he spoke with Mike McKee suggests a man who knows he has a problem.
846 views
R. Christopher Whalen
- May 4, 2022
- 5 min
Interest Rates, Credit and MSRs
Even as Powell signals willingness to take interest rate targets higher, he has put off a decision on the Fed's balance sheet until June.
472 views
R. Christopher Whalen
- May 2, 2022
- 5 min
Where is Value in Fintech?
Take the financials and add some unicorn dust in terms of innovation to the mix and perhaps a double-digit PE ratio for PYPL makes sense.
521 views
bottom of page