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Credit Market Overview: Nov 24, 2009

Tue, 24 Nov 2009 12:39:09 GMT

Whether we are currently in the eye of an economic storm the back wall of which is still lurking with prime residential and commercial mortgage defaults providing the knockout blow to an already weakened financial defense network, or as some say, the green shoots are turning into saplings, stocks have made their run up and credit spreads their run down providing some with reasonable returns for the year.[More...]

Diversify Away With EFA!

Tue, 10 Nov 2009 21:55:58 GMT

Diversify Your Portfolio Outside the US Asset allocation is the most influential factor on investment outcome. There have been growing signs that the worst of the global crisis might have passed. While the US dollar may continue to weaken and the US loses significance in the global landscape, an allocation to other developed markets is deemed necessary. After all, 76% of global GDP is outside the US.[More...]

Time To Bet On This Brazilian Bank?

Mon, 05 Oct 2009 04:06:09 GMT

Santander Brasil is primed to benefit from opportunities in Brazil's lucrative banking market.[More...]

Non-U.S. Banks - May 13 2009 9:38AM

Wed, 13 May 2009 13:40:00 GMT

In general, we believe it is still a bit early to get involved with non-US bank stocks as the fundamental outlook remains weak -- asset quality will continue to deteriorate as individuals and companies default on loans, and revenues should continue to fall as loan growth falters and investment banking faces a dearth of new business in the face of economic slowing. Consumer job losses and sluggish business conditions are increasing worldwide, which will tend to dampen demand for credit, even assuming banks are capable of lending more. Moreover, these factors will also hurt asset quality and increase losses on the existing "good" loan portfolios, even apart from considerations of toxic assets. Combined with top-line pressure due to weakening economic conditions, non-US banks face a daunting outlook. That said, we believe that banks in stable emerging economies, such as Chile, Brazil or India, may be more attractive investments, similar to what we[More...]

Why The Upcoming Porsche Refi Could Cause A Spike In Its Risk Profile

Wed, 08 Apr 2009 16:16:00 GMT

One of the more notable market rumors from yesterday was Porsche's attempt to raise an additional €2.5 billion on top of the €10 billion it managed to scrape together in the eleventh hour at the end of March, the failure of which would have resulted in a technical default. Allegedly, the €2.5 billion will be raised at a spread of 325 over LIBOR, a far cry from the 200 bps the company had been hoping on for the entire €12.5 refi earlier on. Both the core and the add on portion of the loan contain pricing step ups to encourage refi participation and to obtain a credit rating, as well as provide[More...]

Non-US Banks - Mar 6 2009 6:46PM

Fri, 06 Mar 2009 22:40:00 GMT

As in the US, non-US bank stocks continue on a downward trend this year due to the financial problems that began in the US subprime mortgage market and spread globally to engulf many major financial institutions in most countries. The median year-to-date stock price decline for non-US banks in the Zacks universe is 27.1%, compared to a loss of 21.1% for the S&P 500. This includes median price declines for non-US banks in the Zacks universe of 47.6% in Europe, 29.7% in Asia, and 14.6% in Latin America. In response to the global financial crisis, governments have taken dramatic action to forestall the possibility of global meltdown. These rescue efforts include: Australia - guarantee of all bank deposits for three years and will guarantee all wholesale funding to Australian banks for five years Brazil - reduction in reserve[More...]

Non-US Banks - Jan 14 2009 6:27PM

Wed, 14 Jan 2009 22:21:00 GMT

As in the US, non-US bank stocks continue on a downward trend this year due to the financial problems that began in the US subprime mortgage market and spread globally to engulf many major financial institutions in most countries. The median year-to-date stock price decline for non-US bank in the Zacks universe is 2.4%, compared to a loss of 3.5% for the S&P 500. This includes median price declines for non-US banks in the Zacks universe of 6.1% in Europe, 3.9% in Asia, and 0.4% in Latin America. In response to the global financial crisis, governments have taken dramatic action to forestall the possibility of global meltdown. These rescue efforts include: Australia - guarantee of all bank deposits for three years and will guarantee all wholesale funding to Australian banks for five years Brazil - reduction in reserve requirements for[More...]

Spain's Banks Facing Challenges

Mon, 12 Jan 2009 20:54:00 GMT

In this post, we cite the following companies: Banco Bilbao Vizcaya Argentaria, S.A. (BBV) and Banco Santander Central Hispano, S.A. (STD). Today, Standard & Poor's (S&P) added Spain's AAA bond rating to CreditWatch Negative due to economic weakness, confirming our view that Spain is facing significant challenges in the months ahead. Industrial output declined 15.1% year over year in November -- the biggest fall on record -- and 5.8% through the first 11 months of 2008. Spain has been particularly hard hit due to its reliance on construction -- particularly in housing -- and credit as the driving forces of the economy for last 14 years, both of which are now slumping. Spain also reported a steep rise in the unemployment rate to 12.8% in November, a 12-year high,[More...]

If Holiday Retail Stats Don’t Have Economists Saying 'Humbug' Tuesday’s GDP Report Certainly Will

Mon, 22 Dec 2008 14:30:00 GMT

By William Patalon III Executive Editor Money Morning/The Money Map Report If it’s good enough for Wal-Mart… Looks like the discounting model pioneered by Wal-Mart Stores Inc.... Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first. [More...]

How To Avoid Madoff Mayhem

Wed, 17 Dec 2008 18:55:00 GMT

By Martin Hutchinson Contributing Editor Money Morning Bernard Madoff, former chairman of the NASDAQ Stock Market Inc. (NDAQ), was turned into the authorities by his sons last Thursday after... Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first. [More...]

First Data extends merchant services agreement with Sovereign Bank

Sat, 05 Dec 2009 04:47:00 GMT

Payment processing company First Data has agreed with Sovereign Bank, a wholly owned subsidiary of Banco Santander, to extend their existing merchant services agreement.
Sovereign Bank and First Data began their co-operation to offer merchant services programs in 2001.
First Data said that it will continue to provide merchant processing services to Sovereign's business and commercial customers throughout the northeastern US, allowing the bank to offer a suite of electronic payment products and services including credit, debit, check and gift card programs.

: iStockAnalyst.com Symbols Feed

Credit Market Overview: Nov 24, 2009

Diversify Away With EFA!

Time To Bet On This Brazilian Bank?

Non-U.S. Banks - May 13 2009 9:38AM

Why The Upcoming Porsche Refi Could Cause A Spike In Its Risk Profile

Non-US Banks - Mar 6 2009 6:46PM

Non-US Banks - Jan 14 2009 6:27PM

Spain's Banks Facing Challenges

If Holiday Retail Stats Don’t Have Economists Saying 'Humbug' Tuesday’s GDP Report Certainly Will

How To Avoid Madoff Mayhem

First Data extends merchant services agreement with Sovereign Bank

Evening Standard, London, Anthony Hilton column

Q&A: Fund stalwart hones portfolio for success

Mistras Group IPO set for Thursday

IPOs soar in 3rd quarter as market regains footing

Financial Mail, London, Midas Column

BBVA Compass Plans Banking Growth in U.S.

Large Texas bank shut down by federal regulators

Guaranty Bank shut down by regulators

Guaranty Bank shut by regulators

Banco Santander (Brasil) S.A., Celebrates Listing on the NYSE

Santander Announces Commencement of Exchange Offer for Certain of the Group's Outstanding US$ Tier 1 Hybrid Securities

Gemalto Reports First Quarter 2009 Revenue

Lazard Ltd Reports First-Quarter 2009 Results

Zacks Analyst Blog Highlights: Ladish, Banco Santander Central Hispano, S.A., Dr. Reddy's Laboratories, Ltd., Tesoro Corporation and UBS AG.

Zacks Bull and Bear of the Day Highlights: Omnicom Group, Banco Santander, Principal Financial, Huntington Bank and Lennar Corp.

Labaton Sucharow LLP and Hanzman Gilbert LLP Announce A Scheduled Hearing By The United States District Court for the Southern District of Florida On Plaintiffs' Emergency Motion To Enjoin Banco Santander's Offer

Top European Banking Group Chooses Norkom Technologies

BridgewaterEquity.Com Free Fundamental Sector &Amp; Market Research on STD, RBS, KLAC and JDSU

Zacks Bull and Bear of the Day Highlights: NTT DoCoMo, Banco Santander, Intellon, EOG Resources and Orbcomm