The Institutional Risk Analyst

If you look at the abysmal poll numbers for President Donald Trump in terms of his handling of the economy, you can seen why all banks and particularly the consumer lenders are trading so weakly at present. Most of the banks in this group and, indeed, the whole WGA Bank 50 group have reported excellent earnings, but it does not matter. Mr. Market is focused on year-end 2026 and 2027, one reason why we think the FOMC will be cutting the target for federal funds by Spring.

Is the flow of toxic waste pouring from busted private equity portfolios into credit trades a threat to insurance companies? Yup.

With industry losses on every loan closed well north of 200 bp, you might ask yourself why WAL would still be buying conventional loans.

S&P was the first to call out the growing lack of fiscal discipline in Washington, downgrading Uncle Sam in 2011