Debt Capital Surplus (Shortfall) And Trading Opportunities in European Banks
Timing matters. A price decline in an on-the-run bond due to issuance represents a buying opportunity; however, it can take time to regain value....
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Bank Credit Weekly: Jobs Report Shocker Flattens Curves
Job data raises uncertainty as the Fed continues to act as bartender. Financial stability risks appear binary while rates push credit spreads. Can...
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Banco Santander: Undervalued AT1
Santander’s AT1 is undervalued. There is considerably more upside from these securities than at other globally diversified, and EM-centric,...
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Bank Credit Weekly: Risk Sentiment Retreats in Asia and US HY Markets
Asia’s high yield market underperformed as risk sentiment in both Asia and the US retreated. US spreads came under pressure following a deluge of...
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