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...
322 Views
Bank Credit Strategy: Melt-Up Before Meltdown, Where to Position
We could see a melt-up in asset prices from short-term interest rate pressures before the eventual meltdown. We explain the melt-up potential and...
385 Views
Macro; The Week That Was; Rating Changes; Talking Heads; Top Gainers & Losers
US equities were slightly higher with the S&P and Nasdaq up 0.4% and 0.6%. US non-farm payrolls disappointed with 49k jobs added in January vs...
261 Views
Bank Credit Weekly: AT1 Outperformance in Risk-On Environment
European bank AT1 significantly outperformed Asia as each EU Basel III AT1 note tightened. Concurrently, increased risk appetite drove performance...
307 Views
Bank Macro Manifest: Risk Rally Gathers Steam as Bad News = More Stimulus
A confluence of pressures drove the U.S. yield curve steeper. Outsized stimulus combined with overly accommodative monetary policy is the catalyst...
295 Views