Charles Schwab Unwinds the QE Trade
Rising interest rates are not good for bank earnings or bank equity valuations.
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The Institutional Risk Analyst
© 2003-2023 | Whalen Global Advisors LLC All Rights Reserved in All Media | ISSN 2692-1812
Banks | Markets | Fintech
R. Christopher Whalen
- Sep 27
- 9 min
SoftBank as Systemic Event; Update: Charles Schwab & Co
The public behavior and decision-making processes of SoftBank suggest that the organization is in trouble.
1,263 views
R. Christopher Whalen
- Sep 25
- 6 min
Will Fannie Mae & Freddie Mac Raise Guarantee Fees?
With a 75bp average total gfee, would the market for private label MBS return? Or would conventional lending volumes simply crater?
870 views
R. Christopher Whalen
- Sep 21
- 6 min
FSOC Frets About Nonbank Risk; Goldman Sachs Stepping Back?
GS has the weakest position in terms of funding of the top-ten banks and no real narrative for the business post-Marcus.
587 views
R. Christopher Whalen
- Sep 11
- 3 min
Bank Industry Review & Survey Q3 2023
The US banking industry has seen now two consecutive down quarters for net income caused by the Fed’s massive open market operations
851 views
R. Christopher Whalen
- Aug 23
- 6 min
Update: Goldman Sachs + Citigroup; Interest Rates Higher Longer?
We continue to believe that combining Citi and GS may make sense in terms of consolidating two capital markets businesses
628 views
R. Christopher Whalen
- Jul 20
- 5 min
Update: U.S. Bancorp & Goldman Sachs
We expect to see USB trading at a discount to JPM and Peer Group 1 until the bank improves its operating leverage to pre-COVID levels.
530 views
R. Christopher Whalen
- Jun 21
- 5 min
Update: GS, MS, SCHW, RJF & SF
If you agree with our view that the short-selling of the stock was mistaken, then the discount for SCHW is unwarranted.
862 views
R. Christopher Whalen
- Apr 19
- 7 min
The Bank Deposit Run Is Not Over
The funding crisis affecting US banks is not over and very definitely not limited to smaller banks.
4,553 views
R. Christopher Whalen
- Apr 3
- 6 min
Update: Charles Schwab (SCHW); Sagent Presentation
Most major banks grew larger during quantitative easing. Now many of these banks will shrink in terms of assets and also earnings in Q1 2023
4,284 views
R. Christopher Whalen
- Jan 4
- 7 min
Update: Truist, Charles Schwab, U.S. Bancorp & PNC Financial
The largest banks continue to serve as a haven for refugees from crypto fraud schemes and the fintech swoon, but are not cheap
719 views
R. Christopher Whalen
- Aug 15, 2022
- 9 min
Universal Banks | Morgan Stanley, Goldman Sachs, Charles Schwab, Raymond James & Stifel
Total noncore funding at GS was over $700 billion at the end of Q1 2022 vs $321 billion for MS.
488 views
R. Christopher Whalen
- Apr 17, 2022
- 6 min
Profile: Morgan Stanley vs Goldman Sachs
Simply stated, Morgan Stanley has a much more diverse and sustainable business model than Goldman Sachs...
414 views
R. Christopher Whalen
- Nov 18, 2021
- 4 min
Profile: Raymond James Financial
RJF is one of those quiet high-performer banks in the investment world that few understand but many own in LT portfolio
324 views
R. Christopher Whalen
- Sep 9, 2021
- 6 min
The IRA Top Ten Financials
Which US financial will best weather the coming equity market correction?
383 views
Christopher Whalen
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