Tag Archives: BAC

[BAC, JPM, PNC, WFC] COMMENTS ON RATE SENSITIVITY, SMALL BIZ LENDING, AUTO, CARDS

(965 words) Renewed vigor coming out of middle market and small business banking after 2-3 years of tepid borrowing activity.  Borrowing over the last few years has been dominated by large corporates raising funds for M&A and share repurchases, and while large corporate lending continues, middle market balances “finally” turned positive for PNC, which saw […]

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Quick Blurbs [Moody’s, Blackstone, Oaktree, Wells Fargo]

12/6/2016-12/7/2016: GS US Financial Services Conference BX Stephen Schwarzman – “we’re in the product invention business.  We’re not like Magellan fund where you just keep making something bigger and bigger until performance dies and then it gets smaller and smaller.”  The changes in the business sector from the election will be significant, w/ a very […]

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QUICK BLURBS [AXP, BAC, C, JPM, MCO, WFC]

(4,009 words) 10/20/2016: MCO (Earnings Call) Opportunistic issuance on historically low rates drives massive USD issuance/refinancing during the q across investment grade (+20% y/y for the q; +10% for the full year), high yield (+35%; -5%), and leverage loans (+50% on refi and growing CLO activity; +10%), though some of this was pulled forward from […]

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Quick Blurbs [Bank of America, Blackstone, JP Morgan, Oaktree, Wells Fargo]

9/13/2016: BX – Private Equity (Barclays Financial Services Conference) BX says peers are paying 25x cash flow for GDP-growth assets, reflecting an environment where people think, given low rates, you can buy any high quality asset at any multiple and generate sufficient returns (which BX doesn’t subscribe to, a new “core” vehicle launch designed to […]

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