Italian Banks M&A Scenarios: The Italian Job in 2021
Italian banks M&A is gathering and we take a largely contrarian stance on stocks; pairs trade long Unicredit, short Intesa; positive on BPER,...
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Bankia - CaixaBank: Merger in Progress, Spread Attractive
I recommend keeping an eye on the spread. It closed today (27 October) at a gross 1.66%, an interesting level for a deal that will certainly close...
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Bank Credit Weekly: Powell Put Strengthens in Asia While Still Waters Run Deep
: Still waters run deep. Do not be fooled by calm appearances. Asia’s high yield market outpaced the US as risk sentiment diverged following the...
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Crowding-In and Asia Bank Credit: The Context for H2 Expectations
Continued crowding-into US$- denominated credit is the likely outcome of the Fed’s Secondary Market Corporate Credit Facility. The details of the...
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Italian Banks: Value Picks in a Time of Crisis
Italian banks have big challenges, exacerbated by the covid-19 crisis Now the European Commission is putting forward a recovery package, with...
301 Views