Asian bank research and consultancy, Tabbush Report

Daniel Tabbush

Asian bank research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

<ul>
<li>Weekly high frequency data on US banks shows a major slow down continuing in residential mortgage loan growth</li>
<li>Mortgage loan applications index shows some of the worst figures in years in the latest weekly data</li>
<li>Core net interest income and credit costs can surprise even from an area that is traditionally not risky compared with CRE and C&amp;I loans</li>
</ul>


Weekly high frequency data on US banks shows a major slow down continuing in residential mortgage loan growth
Mortgage loan applications index shows some of the worst figures in years in the latest weekly data
Core net interest income and credit costs can surprise even from an area that is traditionally not risky compared with CRE and C&amp;I loans


US Banks - Residential Mortgage Loans Weekly Data Is Dismal

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Morgan Stanley delivered a positive result and managed an all-around beat in the last quarter.</li><li>In Wealth Management, Morgan Stanley saw a decrease in sweep outflows and a stabilizing of retail assets in cash and cash equivalents.</li><li>We give Morgan Stanley a 'Hold' rating with a revised target price.</li></ul>

Morgan Stanley delivered a positive result and managed an all-around beat in the last quarter.In Wealth Management, Morgan Stanley saw a decrease in sweep outflows and a stabilizing of retail assets in cash and cash equivalents.We give Morgan Stanley a 'Hold' rating with a revised target price.

Morgan Stanley: 4 Major Factors Driving This Financial Services Giant - Financial Forecasts

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Alibaba Group Holding  / Equity Capital Markets

<ul>
<li>In this note, we will take a look at broker performance for HK IPOs from 2019-2022. </li>
<li>The following dataset includes all HK IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of <strong>173 deals.  </strong>
</li>
<li>The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.</li>
</ul>


In this note, we will take a look at broker performance for HK IPOs from 2019-2022. 
The following dataset includes all HK IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of 173 deals.  

The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.


Aequitas HK IPOs Sponsor + GC Performance (2019-2022)

Founder & CEO Bond Angle, LLC, Bond Angle, LLC

Vicki Bryan

Founder & CEO Bond Angle, LLC

Bond Angle, LLC

Insightful commentary and analysis on bond markets and market movers, including financial, economic, and industry catalysts and management shenanigans. 

High yield market investment research

Credit

<ul>
<li>I warned Elon Musk wouldn't help his beleaguered banks via refi of billions in losing LBO debt they foolishly fronted him to buy Twitter.</li>
<li>He can't even stop setting it and himself on fire every day.</li>
<li>Now he admits Twitter is being killed by the advertiser boycott he again caused—but takes no responsibility for his incendiary actions.</li>
</ul>


I warned Elon Musk wouldn't help his beleaguered banks via refi of billions in losing LBO debt they foolishly fronted him to buy Twitter.
He can't even stop setting it and himself on fire every day.
Now he admits Twitter is being killed by the advertiser boycott he again caused—but takes no responsibility for his incendiary actions.


Elon Musk's "Global Sewer" May Derail Bankers' Trying To Finally Dump Toxic Twitter LBO Debt

Product Marketing Manager, Criat

Raghav Chandra Mathur

Product Marketing Manager

Next-Generation Credit Analytics Provider

Criat

Criat specializes in new-generation data-driven credit analytics. Leveraging our industry-leading DeepCredit analytical technologies, we produce daily-updated forward-looking credit assessment and valuation to help financial institutions stay ahead of risks. Coupled with use-case-driven applications, we extract insights, answer questions and enable smarter credit decisions.

<ul><li>US-domiciled Global Systemically Important Banks (G-SIBs) have seen their credit risk profiles improve over the last quarter of 2023 towards the median credit risk faced by all US- banks.</li><li>The downward trend in the Criat Credit Cycle Index (CCCI) for G-SIBs was largely driven by improvements in their equity performance, which has improved their financial position comparative to its peers.</li><li>As can be seen from Chart 1, although the G-SIB CCCI is trending lower since late September-2023, their aggregate credit profile is still close to the upper quartile credit risk of the US banking industry.</li></ul>

US-domiciled Global Systemically Important Banks (G-SIBs) have seen their credit risk profiles improve over the last quarter of 2023 towards the median credit risk faced by all US- banks.The downward trend in the Criat Credit Cycle Index (CCCI) for G-SIBs was largely driven by improvements in their equity performance, which has improved their financial position comparative to its peers.As can be seen from Chart 1, although the G-SIB CCCI is trending lower since late September-2023, their aggregate credit profile is still close to the upper quartile credit risk of the US banking industry.

US G-SIBs Recover in Q4 2023, Facing Cloudy Outlook for 2024

United States

Morgan Stanley, a bank holding company, provides diversified financial services on a worldwide basis.  The Company operates a global securities business which serves individual and institutional investors and investment banking clients. Morgan Stanley also operates a global asset management business.

Morgan Stanley (MS US)

US Banks - Residential Mortgage Loans Weekly Data Is Dismal

Residential mortgage loan data is dismal and worsening for US banks, which we see in weekly data of loan growth and in the Mortgage Bankers Loan...

Daniel Tabbush

Morgan Stanley: 4 Major Factors Driving This Financial Services Giant - Financial Forecasts

Morgan Stanley delivered a positive result and managed an all-around beat in the last quarter. In Wealth Management, Morgan Stanley saw a decrease...

Baptista Research

Elon Musk's "Global Sewer" May Derail Bankers' Trying To Finally Dump Toxic Twitter LBO Debt

As I warned in November, Bloomberg reports today Elon Musk refused to rework disastrous loans Banks funded for him buy Twitter which have cost them...

Vicki Bryan

US G-SIBs Recover in Q4 2023, Facing Cloudy Outlook for 2024

US-domiciled Global Systemically Important Banks (G-SIBs) have seen their credit risk profiles improve over the last quarter of 2023 towards the...

Criat

US Banks - Residential Mortgage Loans Weekly Data Is Dismal

Residential mortgage loan data is dismal and worsening for US banks, which we see in weekly data of loan growth and in the Mortgage Bankers Loan...

Daniel Tabbush

Morgan Stanley: 4 Major Factors Driving This Financial Services Giant - Financial Forecasts

Morgan Stanley delivered a positive result and managed an all-around beat in the last quarter. In Wealth Management, Morgan Stanley saw a decrease...

Baptista Research

Aequitas HK IPOs Sponsor + GC Performance (2019-2022)

In this note, we will take a look at broker performance for HK IPOs from 2019-2022. The following dataset includes all HK IPOs above US$100m for...

Ethan Aw

Elon Musk's "Global Sewer" May Derail Bankers' Trying To Finally Dump Toxic Twitter LBO Debt

As I warned in November, Bloomberg reports today Elon Musk refused to rework disastrous loans Banks funded for him buy Twitter which have cost them...

Vicki Bryan

US G-SIBs Recover in Q4 2023, Facing Cloudy Outlook for 2024

US-domiciled Global Systemically Important Banks (G-SIBs) have seen their credit risk profiles improve over the last quarter of 2023 towards the...

Criat