Discover and read the best of Twitter Threads about #credit

Most recents (24)

It was 73 degrees and sunny in #JacksonHole, Wyoming, today; a perfect day for all those who were there….
Yet, there were no #monetary policy officials present at the traditional location of the @KansasCityFed’s late-summer #economic policy symposium, since they were conducting a “virtual symposium.”
That symposium provided #ChairPowell the opportunity to lay out a reasonably sunny perspective on the U.S. #economy, but also one that was not out of the woods yet, in terms of Covid variant risk and a maximum #employment target still to be achieved.
Read 10 tweets
How to trade relative value credit trading strategies (and derivative rv strategies in general)?

#credit #trading
1/ 𝗖𝘂𝗿𝘃𝗲 𝗧𝗿𝗮𝗱𝗲𝘀

The spread curve can be split into 2 parts, 3s10s and 10s30s, which both behave differently. In the long end, buy-and-hold, yield targeting investors (insurance/pension) account for most demand.
2/ Short end of the curve (2s10s) steepens when spreads rally and flattens when spreads sell-off.

Corporates news affects short-term creditworthiness, more than the long term.
Read 30 tweets
How #credit cards were born.

A thread.
In the 1950s, a businessman in New York, Frank McNamara forgot his wallet while dining out, and had to call his wife to save him from washing the dishes.
This embarrassing episode led to the birth of the revolutionary Diners’ Club card- technically a charge card that requires full repayment at the end of each month.
Read 10 tweets
Thanks to @steve_sedgwick & @cnbcKaren for having me on #CNBC #SquawkBox this AM.

What did we discuss? Well, #inflation of course!

I prepared some slides for the show which I'm happy to present in this thread.
1/n
#macro #Fed #Yellen #JeromePowell #bankofengland #QE
Are people in denial or is the #centralbank money flood just drowning all the signals?
2/n
#inflation
#Commodities, #freight, #carbon - and a whole lot besides - sure do cost a lot more, these days.
3/n
Read 14 tweets
Top-Down Vs. Bottom-Up Style of Investment Analysis: Risk Versus Research Desk Perspectives
@GARP_Risk @CFAinstitute @CQFInstitute
In the field of Investment Risk and Research Analyses, the research/risk analyst has to make a choice between two asset selection and/or allocation approaches.
The first approach is referred to as the “Top-Down Analysis” and the second is its opposite, the “Bottom-Up Analysis”.
Read 62 tweets
A thread on what is #creditscore and why is it important?
#credit #creditcard
I'm sure you must have done at some point too! 😛
Which range do you fall in? When did you check your #creditscore last?
#banks #CIBIL
Read 7 tweets
What are new graduates doing to be attractive to banks entry-level analyst programs?
@ABABankers @TheBanker @CIOonline @RiskDotNet @FT
Interesting question.
Banking sector MTO - Management Trainee Officers Program vary from country to country.
In my country Bank Staff Colleges train young graduates to become bankers.
The hired graduates have to undergo an intensive training course by attending several In-house boot camps or lecture hall workshops before they are moved into the formal workplace.
Read 38 tweets
Aims of the #GreatReset #American #Bankers #Oligarchy ... "We will promote social justice policies to reduce inequalities including through support to tax redistributive & domestic resource optimization approaches social safety nets & or insurance schemes"
Newly Unsealed Docs in 2018 showed top #FDIC Officials Running Operation #ChokePoint* under 2013 #ObamaAdministration to form public/private oligarchy

* to freeze politically disfavored #businesses deemed not PC / high risk out of the financial system
forbes.com/sites/norbertm…
Read 39 tweets
Lumber Prices Are Soaring. Why Are Tree Growers Miserable?
Sawmill operators harvest gains while Southern landowners struggle with tree surplus; ‘I’m not making anything’

wsj.com/articles/lumbe…
Mortgage Companies Want In on the IPO Boom. Investors Aren’t Convinced. 

Initial public offerings for mortgage lenders haven’t worked out the way all the companies were hoping
wsj.com/articles/mortg… #realestate #rates #home #housing #credit
Read 11 tweets
Daily Bookmarks to GAVNet 12/31/2020 greeneracresvaluenetwork.wordpress.com/2020/12/31/dai…
Sensemaking Reconsidered: Towards a broader understanding through phenomenology - Jörgen Sandberg, Haridimos Tsoukas, 2020

journals.sagepub.com/doi/full/10.11…

#understanding #sensemaking
Read 10 tweets
#DBL #DilipBuildcon

Dilip Buildcon Ltd. is an India-based company engaged in the business of #infrastructure facilities on engineering procurement and construction (#EPC) basis for #roads #Bridges #Irrigation & #UrbanProjects.
@srslysaurabh @avinashmehta123 @Agarwal_Ishu
Why should one look into this? And does this deserve a place in my portfolio. Here’s my rational below.

#DBL started as a #Road Construction company for the western region and now has diversified into multiple segments and the co. has covered almost all the states in #India.
#DBL has secured orders worth INR 10703 Cr. In FY 21 and the total order book stands at approximately INR 26115 Cr. Orders are balanced between state govt. and central govt. entities. The company has successfully reduced risk on all parameters as far as business is concerned.
Read 35 tweets
Gallup Pakistan collaborated with Pakistan Microfinance Network to estimate the potential market for #Mircofinance in Pakistan including #Credit, #savings, #payments and #insurance.

Link to report: pmn.org.pk/estimating-the…
The report provides a statistical overview of the current microfinance landscape in Pakistan & it explores three penetration levels based on data collected in the following three studies: Access to Finance Survey, Household Integrated Economic Survey & the National Poverty Report
Key Findings:

1. Based on estimation models using A2Fs 2015 data the potential market for microcredit in Pakistan is estimated to be 40.9 million for people aged between 18-65 years. Image
Read 8 tweets
What are the implications of excess global financial market volatility on economic growth? Are there threshold effects in the relationship between growth & excess global volatility for individual countries? How should we model the nonlinear effects in a multi-country setting? 1/n
We answer these questions in recent work with Alexander Chudik @DallasFed, M Hashem Pesaran @USCDornsife @TrinCollCam, @mraissi80 @IMFNews & @arebucci1 @JHUCarey @cepr_org @nberpubs: ideas.repec.org/p/cam/camdae/2… #TGVAR 2/n
The #Covid19 #pandemic has been a shock like no other, initiating simultaneous demand and supply disruptions. In addition, it led to a sharp tightening in global #financial market conditions during the first quarter of 2020. 3/n Image
Read 23 tweets
ये हैं सरदार मोहन सिंह, जिन्होने 2nd विश्व युद्ध में जर्मन के लिए लड़ाई लड़ी थी। युद्ध जीतने के बाद हिटलर ने उन्हें इनाम देना चाहा तो सरदार जी ने कहा कि हमें अच्छे से अच्छे हथियार दीजिए, क्योंकि हमें अपने देश को आजाद करवाना है। हिटलर ने फिर उन्हें जो हथियार दिये, वही (1/3)
हथियार आजाद हिन्द फौज ने इस्तेमाल किए और सही मायने मे इस लड़ाई में र॔गून में 50 हजार से ज्यादा अंग्रेजी फौज के मारे जाने क बाद ही अंग्रेजो ने भारत छोड़ने का फैसला लिया था । इसमें गाँधी और काँग्रेस का कोई योगदान नहीं था। बाद में इन इतिहास लिखने वालों ने आजादी का सारा (2/3)
#credit चरखे को दिया। उस समय के नेताओ ने सरदार मोहन सिंह जैसे महान योद्धा का नाम भारत के इतिहास से गायब कर दिया।
लानत है तुम सब इतिहासकारो पर। (3/3)
Read 3 tweets
#Russia #Belarus #Sochi #Credit

In view of the power struggle in Belarus, Kremlin chief Vladimir Putin has promised his ailing colleague Alexander Lukashenko a loan of 1.5 billion US dollars. The neighboring country should get help from Moscow "at this difficult moment,"
Putin said at a meeting with Lukashenko in Sochi. Due to the tense situation, Putin also spoke out in favor of constitutional reform in Belarus. "I think that is logical, timely and appropriate," said the Kremlin chief. Lukashenko had not ruled out possible changes.
However, the opposition emphasized that he only wanted to buy time with these promises. It is the first face-to-face meeting of the two since the controversial presidential election on August 9th.
Read 5 tweets
The Tower of Basel dropped the 'Quarterly Review: International banking & financial market developments' so I loaded up on espresso & blueberries & dove in2 this trove of soothing CB lingo mixed with some Sufi wisdom & colourful illlus: bis.org/publ/qtrpdf/r_… Some takeaways 1/5
2/5 Riddle me this; "Stock markets rebound unevenly amid downgraded earnings expectations." & "Corp #credit spreads tighten despite indications of persistently high credit #risk" & "funding costs for #EM sovs drop despite weak pf inflows." ImageImageImageImage
3/5 Heads up: "Firms desired leverage can be excessive if companies do not account for all financial distress costs..." "Share buybacks rose just as valuations began to rise..." & "#Credit #risk rose with leverage but it only revealed itself during market stress..." ImageImageImageImage
Read 6 tweets
1/ I ran a course on applied financial #modeling for #credit relationship managers last week.

In the day and age of #models, do #analysts still need to understand how models are put together and numbers projected.

Credit systems give us numbers. Do we need more?
#banking #risk
2/ To translate model figures into useful insights, an analyst must understand what drives a business and how those drivers would be impacted by future outlook.

A model is only as good as the input we plug in. Without relevant insight good models also produce garbage
3/ For instance, how would remote learning impact margins at school systems? Would enrollment numbers go up or down? How about non-core expenses?

When a senior #credit committee member asks a question or challenges an assumption, you can't hide behind the #model.
Read 9 tweets
Three features of post-#pandemic economic recovery by Peng Wensheng:
mp.weixin.qq.com/s/LEZYtB-JFAVw…
1. #savings gluts, or supply greater than demand, implying weak momentum for economic recovery, lowered interest rate and deflation pressure...1/6
2. expansion of credit has not turned into productive #investment, causing potential financial risk and a drag on the #economy;
3. virus containment measures have changed people’s behavior and the economic structure, with the digital economy gaining strong momentum...2/6
There are 3 ways to work off savings gluts: bank credits, direct financing and fiscal expansion. Each has its own strengths and weaknesses, but #credit expansion wouldn't be a wise choice, while a proper combination of the other two is expected to bring desirable outcomes...3/6
Read 6 tweets
...though basically unchanged in 3 1/2 years

#Housing
And, those good ole #FederalReserve policies again mean the monthly cost of an average #NewHome (approximated here) is back where it was 15 years ago...

#housing #QE
...while, as a proportion of the average weekly wage )as per #NFP), well - you can see for yourself:-

As we always say, there'll always be a scarcity of something real as long as there are few such constraints on #money & #credit creation.

#mortgage #RE
Read 5 tweets
The S&P Global Ratings' 'Global #Banks outlook midyear 2020 review holds some interesting insights: spglobal.com/_assets/docume… #GlobalTrends #Macro #Risks...Some takeaways...(1/5) Overview, BICRA scores & risk trends, rating bias turns sharply negative... ImageImageImage
2/5 #NorthAmerica banking sector overview...#Credit conditions, Fragile uneven sector recovery, #US bank earnings fall on provisions...#Macro #Risks ImageImageImageImage
3/5 #EMEA overview...Hardest hit sectors will have spill-over effects on banking sector, EMEA #Banks key expectations, #Covid19 will hit profitability in 2020...#EU #UK #Macro #Risks ImageImageImageImage
Read 5 tweets
S&P Global Ratings provides an odyssey length bullet point journey through the global credit landscape here: spglobal.com/ratings/en/res… #CorporateCredit #Macro #Risks A few takeaways...1/4
2/4 Economic/Financial conditions & #credit outlooks...#US outlook, #Europe outlook...#Macro #Risks ImageImageImageImage
3/4 #EMs outlook...#Auto industry outlook...#Germany corporates outlook...2020 global corporate #defaults jump above total 2019 levels in 5 months led by the #US...#Macro #Risks ImageImageImageImage
Read 4 tweets
The S&P June '#Credit Conditions #NorthAmerica' report is an interesting exploration of current economic and financing trends: spglobal.com/_assets/docume… #GlobalTrends #Macro #US #Canada...Some takeaways...(1/3) ImageImage
2/3 Shape of #Recovery by sector, Corporate earning vs GDP forecast & Fed driven financing conditions leads to surge in corporate bond issuance...#Macro #US #Risks #CorpCredit ImageImageImage
3/3 Overview of corporate downgrade trends by sector & overview of structured finance trends in #NorthAmerica...#GlobalTrends #Macro #CorpCredit #CLOs #Risks ImageImage
Read 3 tweets
The Fed Board of Govs 'Financial Stability Report' from May holds some interesting perspectives: federalreserve.gov/publications/f… Some takeaways...(1/5)...The assets - where will these valuations be at in 2021? Which ones wld u want to hold? #Macro #US ImageImageImage
2/5 The liabilities...Outstanding #US Non-financial corp & household #credit...#CorpCredit at record highs % to GDP..High yield/Lev. Lending looking challenged b4 Fed stepped in...#Macro #Risks ImageImageImageImage
3/5 #US #CorpCredit & #LeveragedLoans quality deteriorated...Banks exposure to corporate borrowers via credit lines was at $3.6trln at the end of 2019, drawdowns increased as corporates hit turbulence in Q1...#Macro #Risks ImageImageImageImage
Read 5 tweets

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