The Institutional Risk Analyst

When Pinnacle Financial Partners, Inc. (PNFP) announced an all-stock transaction last week to acquire Synovus Financial Corp. (SNV), we were unimpressed. The markets sold off on the news and there then followed a series of stock downgrades and credit rating agency actions that were disconcerting to put it mildly. 

Citigroup leads the pack with a net loss rate of 133 basis points (bp) that is almost five times the average for Peer Group 1 at 27 bp.

With a budget deficit projected to be $1.8 trillion in 2024, the odds of the FOMC actually controlling inflation are pretty low.