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Stock futures rose Monday as traders assessed a plan to backstop all the depositors in failed Silicon Valley Bank and make additional funding available for other banks. Futures for the Dow Jones Industrials gained 51 points, or 0.2%, early Monday to 32,216. Futures for the S&P 500 nic...
2023-03-12 12:15:36 ET Summary Good time for Fear Arbitrage. Silvergate and Silicon Valley Bank are very specific cases. The US chartered banking sector is very healthy, because banking regulations do not allow over-leverage like before the financial crisis. My read on Sil...
2023-03-12 10:34:45 ET Summary Blackstone has suffered from the 2022 bear market in financial products on Wall Street and now bank solvency/contagion worries in March 2023. All the while, underlying operations, including sales and cash flow, continue to rise. A solid valuation...
2023-03-12 06:56:24 ET Summary The collapse of SVB had much to do with ineffective risk management. However, the Fed (and other regulators) had a large part to play in this as well. Contagion is likely unless regulators provide a backstop. The large U.S. banks are safe and...
2023-03-12 06:33:24 ET Summary Some banks have paper losses on their debt holdings as high as 67% of their current stock price. As interest rates rose sharply the last 15 months because the Fed increased their Fed Funds target, bond prices dropped sharply. Most of the informat...
2023-03-12 00:48:12 ET Summary SVB Financial's historic and quick collapse sent shockwaves around the markets last week, with fears running deep of bank runs on broader institutions. Companies across the business world are poised to rethink their deposit structures to avoid simila...
2023-03-11 09:00:00 ET Summary Markets rose and then sold off after the Jobs Report. Winning sectors and buys; sectors to avoid include information technology. Watch out for the Consumer Price Index Report next week. When the U.S. Bureau of Labor Statistics posted jo...
2023-03-11 07:46:29 ET Summary On Friday, due to a sudden increase in deposit outflows and a failed attempt to raise equity, Silicon Valley Bank was shut down by US regulators. I would love to quickly explain as simple as possible what I believe caused the collapse of SVB Financia...
2023-03-11 07:20:00 ET It's nothing new to investing veteran investors, and new investors are quickly becoming accustomed to the phenomenon as well: Banking stock valuations are reliably lower than those of most other stocks. And this valuation disparity has been even wider than usual in re...
2023-03-10 16:20:13 ET Axsome ( NASDAQ: AXSM ) Therapeutics closed down Friday ~6% , and is down another 2% in post-market trading after saying it has "material" deposits with both FDIC-shuttered SVB Financial ( SIVB ) and Citi ( C ). In an SEC filing, the ...
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Citi Issuer Services, acting through Citibank, N.A., has been appointed as depositary bank by NIP Group Inc. (“NIP”) for its American Depositary Receipt (“ADR”) program. NIP is a leading Chinese esports organization with an expansive global footprint that spans Asia, E...
2024-07-30 09:00:15 ET Betsy Graseck from Morgan Stanley issued a price target of $79.00 for C on 2024-07-30 08:05:00. The adjusted price target was set to $79.00. At the time of the announcement, C was trading at $64.3. The overall price target consensus is at $68.92 wi...
Citi today announced the launch of its annual CitiFX Vendor Review, which provides the broadest view of FX vendors and a comprehensive analysis of the FX landscape for the benefit of clients and FX providers. The review highlights where strategic venue and vendor partners can improve based on...