Bank Credit Weekly: Duration Admiration
We moved from melt-up to full risk-on duration admiration. Almost all bank bonds tightened globally. Given the rate of change, there are mispriced...
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Bank Credit Weekly: Melt-Up in Asset Prices or Melt-Down in Conviction?
Melt-up in asset prices or melt-down in conviction? Short callable AT1 bonds led the ongoing rally in bank credit. Tier 2 bonds suggest more of a...
323 Views
Last Week in Event SPACE: Brilliance China, Harmonic Drive, Sawada, Japan Asia, Naspers/Tencent
The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...
473 Views
Bangkok Bank: A Sore Thumb
BBL sticks out versus peers like a sore thumb for its deterioration in Efficiency. Thai banks are getting more efficient in general.
383 Views
Bank Credit Compass: Credit Tourist May Vacate if Real Fundamentals Do Not Catch-Up
Credit tourists may vacate if economic growth and real credit fundaments are not delivered. The gap between credit spreads and fundamentals is...
355 Views