Q: Is JPMorgan Overinflated?
The banking industry has segmented into a handful of above-average performers and JPM is the largest leader of these "winners"
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The Institutional Risk Analyst
© 2003-2024 | Whalen Global Advisors LLC All Rights Reserved in All Media | ISSN 2692-1812
Banks | Markets | Finance
R. Christopher Whalen
Sep 307 min read
Jim Rickards: The Treasury Should Buy Gold
The Treasury should begin to buy gold again to demonstrate that the dollar is real.
2,121 views
R. Christopher Whalen
Aug 189 min read
The Top Seven Banks: JPM, BAC, C, WFC, USB, PNC & TFC
Banks lose money every single day by holding onto a below market security from the 2019-2021 period.
690 views
R. Christopher Whalen
Oct 17, 20234 min read
Charles Schwab Unwinds the QE Trade
Rising interest rates are not good for bank earnings or bank equity valuations.
1,572 views
R. Christopher Whalen
Jun 12, 20235 min read
Bank Deposits vs US Treasury Bills
Remember, for every $1 in debt redeemed on the books of the Fed, a bank deposit disappears.
1,910 views
R. Christopher Whalen
Jun 5, 20232 min read
The IRA Bank Book | Q2 2023 Industry Outlook
How much of book value do banks lose
as the Fed adjusts interest rates to fight inflation?
875 views
R. Christopher Whalen
Mar 21, 20235 min read
Winners & Losers in the New Gilded Age
Mark Twain called Washington ''the grand old benevolent National Asylum for the Helpless'' in his classic "The Gilded Age."
1,766 views
R. Christopher Whalen
Nov 28, 20226 min read
Is JPMorgan Chase Insolvent?
The US banking industry has been rendered insolvent by the Federal Open Market Committee
8,016 views
R. Christopher Whalen
Nov 2, 20226 min read
Terminal Rates & Conflicted Economists
The cult of ever falling interest rates goes back 50 years and spans the terms of Fed chairs back to Alan Greenspan and Paul Volcker...
701 views
R. Christopher Whalen
Oct 24, 20223 min read
AOCI: The Winter of Quantitative Easing
Little attention is being paid to the collateral damage being done by the FOMC to the debt capital markets
778 views
R. Christopher Whalen
Sep 27, 20223 min read
Short QE, Long Volatility
Until the FOMC raises interest rates to more “normal” levels, we don’t expect actual volatility to decline.
452 views
R. Christopher Whalen
Jul 31, 20228 min read
Short Collateral & Long Tantrums
Demand for risk-free collateral and liquidity is largely a function of how JPMorgan (JPM) CEO Jamie Dimon feels about risk on any given day
852 views
R. Christopher Whalen
Jul 24, 20226 min read
Questions for Chairman Powell
QE has created a gigantic interest rate mismatch across markets for banks, non-banks and other financial intermediaries including the GSEs
505 views
R. Christopher Whalen
May 31, 20226 min read
QT Means Short Credit Risk
Market risk realized today becomes credit risk tomorrow...
1,249 views
R. Christopher Whalen
May 29, 20222 min read
The IRA Bank Book | Outlook Q2 2022
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...
402 views
R. Christopher Whalen
May 4, 20225 min read
Interest Rates, Credit and MSRs
Even as Powell signals willingness to take interest rate targets higher, he has put off a decision on the Fed's balance sheet until June.
498 views
R. Christopher Whalen
Apr 11, 20225 min read
Weak Bank Earnings & Surging Interest Rates = Lower Valuations
Will Fed Chairman Jay Powell fold in terms of further rate hikes if the S&P 500 falls 1,000 points in a day?
493 views
R. Christopher Whalen
Mar 21, 20226 min read
Will SOFR Be the Death of Jay Powell?
If the Fed causes another liquidity crisis as it ends QE and shrinks the balance sheet, then Chairman Powell should immediately resign.
1,373 views
R. Christopher Whalen
Mar 15, 20225 min read
QE, Risk Premia and Option Adjusted Spreads
There a brisk debate ongoing in the fixed income markets over how much the Federal Open Market Committee will raise interest rates and when
862 views
R. Christopher Whalen
Nov 15, 20214 min read
As the Fed Ends QE, Stocks and Crypto Will Retreat
And in the meantime, we view the end of QE as a net negative for global stocks as well as crypto. Everything is correlated in a crowd.
1,148 views
Christopher Whalen
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