The Institutional Risk Analyst

The good news for BAC and other banks is that there is a discernable lift underway on the yield of bank balance sheets

In times of market volatility and suddenly ended delusions of easy money, the prudent path is to fly to quality.

Most of the banks in our surveillance group are down between 10% and 30% so far this year, but none of these are particularly cheap as yet

A "normal" level for US bank deposits would be closer to $15 trillion than $19.9 trillion today.

Even as the FOMC raises interest rates, we caution our readers to be prepared for disappointment from banks near term

We see an at least equal chance that margins will get squeezed for agency and MSR investors before they expand via higher interest rates

Market risk realized today becomes credit risk tomorrow...

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...

The reduction in the Fed's balance sheet is the largest ever margin call on equity exposures of all descriptions.

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.

Just imagine how global markets will react when Putin deploys tactical nuclear weapons in Eastern Ukraine to avoid a military defeat

Simply stated, Morgan Stanley has a much more diverse and sustainable business model than Goldman Sachs...

Will Fed Chairman Jay Powell fold in terms of further rate hikes if the S&P 500 falls 1,000 points in a day?

Many of the startups, investment flows and SPAC transactions that proliferated in 2020-2021 are likely to be casualties in the next several

Valuations for the top five US banks are up slightly as Q1 2022 comes to an end

Why does this bank exist? What market does it serve and how will it grow in the future?

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

As we move into Q4 2021 earnings, keep your eyes peeled for news of restructuring of urban commercial commercial and multifamily properties

We ask whether bank fundamentals are starting to catch up to the very full equity market valuations , up 40% since the end of 2020

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