Hang Seng Bank – HSBC Fingerprints All Over This Print
HANG SENG BANK: Hang Seng reported both a weak and low quality 2H20 result - declining 17.5% HOH due loan contraction and NIM compression. The...
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HSBC Q4 ’20: Surprisingly Credit Positive Results and Strategic Update
HSBC announced a major shift in objectives without drawing undue attention. It seeks to operate at a lower liquidity level and a higher beta to...
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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...
503 Views
HSBC Holdings Plc –American Result Intimates Group Miss
HSBC HOLDINGS PLC: HSBCNA reported troubling results in 4Q20 - declining 195% linked quarter, as operating costs exceed recurring revenues. This...
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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...
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