US Equity Strategy: Mid-Caps Breaking Out, Are Small-Caps Next? Buying Energy, Financials, Materials
Risk-on signals remain the dominant theme. One of those risk-on signals is that the S&P 400 Mid-Caps (IJH) are breaking out to new highs, and we...
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U.S. Equity Strategy: Testing Key Resistance; Downgrading Health Care
The S&P 500, Nasdaq 100 (QQQ), and Russell 2000 (IWM) have all rallied to logical resistance; a break above their respective resistance levels...
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US Banks – Deferral Debt Dwindling
We look to US banks’ C19 loan modifications. Modified loans or reschedule loans have narrowed dramatically, suggesting that the degree of stress is...
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US Banks – Borrow Short, Lend Long
While credit costs will remain a key focus for US banks over the coming quarters, we must not lose sight of the steepening yield curve and what it...
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Bank Credit Weekly: Return of Risk-Off, Save for Asia Bank Credit
Dollar strengthening, continued equity market weakness and the panoply of Fed speakers crying for more fiscal stimulus did not help Asian or US HY...
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