The Institutional Risk Analyst

Bottom line, when a bank seems to be doing much better than other banks, there is usually a reason and that reason is almost always bad

In the short-run rising interest rates and spreads will help bank earnings. But where is the next credit hot spot?

We think the chart below from FRED is worth any amount of words on the impact of QE on equity market valuations.

Is SQ really, REALLY worth 25x book value? Our respectful answer to that question is no.

any of the problems that the Fed now seeks to fix, starting with the unnecessary elimination of LIBOR, are a function of earlier policies...

RJF is one of those quiet high-performer banks in the investment world that few understand but many own in LT portfolio

To paraphrase our friend and fellow mortgage maven Rob Chrisman, ponder a 2022 lending market that’s 75% purchases and just 4.79 million uni

Over the next several years, as the economic cost of COVID becomes full visible, New York City may face its second financial crisis

The good news is that NRZ is growing and making strides in terms of asset creation and, especially, asset retention.

Fact is, we are all staring at computers or handsets, all of which are connected to the internet.

Many of the better managed financials that we track have become sellers of assets rather than buyers in the past several months.

Amidst the yelling and screaming of Elizabeth Warren, we suspect that Jay Powell will survive the crisis

In the Q3 2021 edition of The IRA Bank Book, we document the slow destruction of US bank asset and equity returns by the FOMC.

Which US financial will best weather the coming equity market correction?

If we told you that a group of banks and REITs outperformed fintech stocks during the first nine months of 2021, what would you say?

U.S. Bancorp, PNC and Truist Financial hold great value creation potential. But which is likely to realize this potential?

We expect to see a lot more M&A activity over the next 12 – 18 months, as that’s the only way for some players to grow share.

There is, after all, no free lunch for investors when the Fed is serving the thin meal of Financial Repression

Growing numbers of investors are burned by mortgage stocks. Big question: Will the industry snap back due to now falling interest rates?

The big surge in income and net worth caused by the FOMC last year is rapidly ending. Winter has returned to mortgage land...