The Institutional Risk Analyst

Even as the FOMC raises interest rates, we caution our readers to be prepared for disappointment from banks near term

Market risk realized today becomes credit risk tomorrow...

The sharp rise in bank stocks in 2021 coincided with a surge in operating income due to COVID. Now we reverse that trend in 2022...

The reduction in the Fed's balance sheet is the largest ever margin call on equity exposures of all descriptions.

Q: What do Elon Musk and Masayoshi Son have in common? Gigantic margin loans...

Benevolence, as Chris and I noted in our book "Financial Stability," always gets you more bang for the buck than being miserable.

There are virtually no conventional lenders in the US today that are profitable when the sell a loan into the secondary market.

Just imagine how global markets will react when Putin deploys tactical nuclear weapons in Eastern Ukraine to avoid a military defeat

Simply stated, Morgan Stanley has a much more diverse and sustainable business model than Goldman Sachs...

Will Fed Chairman Jay Powell fold in terms of further rate hikes if the S&P 500 falls 1,000 points in a day?

Valuations for the top five US banks are up slightly as Q1 2022 comes to an end

If the Fed causes another liquidity crisis as it ends QE and shrinks the balance sheet, then Chairman Powell should immediately resign.

There a brisk debate ongoing in the fixed income markets over how much the Federal Open Market Committee will raise interest rates and when

Why did FOA write down $1.4 billion in intangible equity, yet UWM took no similar write down?

We add a new dimension of risk to the normalization of US bank earnings with the Russian war against Ukraine.

The imposition of sanctions on Russia is not as comprehensive as some press reports suggest.

SI’s management team is taking advantage of the narrative in Washington, which is that stable coins will be a bank only product

Among the ten largest mortgage specialization banks, NexBank had among the best equity returns in Q3 2021

Why does this bank exist? What market does it serve and how will it grow in the future?

Bottom line, when a bank seems to be doing much better than other banks, there is usually a reason and that reason is almost always bad