Our daily look at credit and debt ratings actions has to lead off with the news that Moody’s has lowered its ratings on Bank of America Corp. (NYSE: BAC), Wells Fargo Corp. (NYSE: WFC),…
Bank of America Corporation (NYSE: BAC) has been no stranger to troubles nor any stranger to controversies. It is now looking to be no stranger to credit rating downgrades. Moody’s has downgraded the credit…
Fund manager Jim Chanos has been pretty vocal about the risks in China from its economy to its debt levels to its real estate market. He goes on to say that real growth in…
The FOMC decision on interest rates on Wednesday is going to be a rather unique one. Ben Bernanke cannot really lower rates but it can use its balance sheet that holds so many Treasury…
Debt and credit rating agencies made a number of changes yesterday, led by the downgrade of Italian sovereign debt by Standard & Poor’s. The agencies also issued changes to debt ratings for the following…
nationsonline.orgThe European Union is suggesting that a new round of bank stress tests may be necessary to calm the capital markets, which are concerned about the balance sheets of financial firms. However, by the…
There is value in the world of conglomerates. The news flow is further evidence of that, but we have to throw up the caveat the driving force today should likely be considered a rumor…
Morgan Stanley (NYSE: MS) has just released a “leadership transition” at the company. John Mack, known formerly as ‘Mack the Knife,” is stepping down as Morgan Stanley’s Chairman and is retiring at year-end. He…
HCA Holdings, Inc. (NYSE: HCA) is surging on news this morning that could be a very valuable lesson for private equity IPO situations. The company is repurchasing a whopping 80,771,143 shares of HCA common…
The number of ways consumers can spend their money is poised to get larger. The familiar credit and debit cards are threatened by all manner of electronic payment methods, and none of the big…
The 30-Year Treasury auction, the so-called Long Bond, had a strong participation for what is technically a 29-year and 11-month bond. The participation rate was strong enough that this still shows a safety bias…
General Electric Co. (NYSE: GE) is making good on a promise it made earlier this year: it is paying back Warren Buffett. An SEC filing after the closing bell shows that GE mailed to…
It looks look your fears that high frequency trading (HFT) screwing up the markets are correct. We have often wondered how this benefits anyone other than the HFTs and the exchanges. Most individuals and…
This morning’s report that Citigroup Inc. (NYSE: C) has downgraded its fellow banks’ earnings was based on fears that the European banking system is facing severe pressure from economic weakness on the continent and…
Major banks and brokerage firms do not cover their own banks, for obvious reasons of conflicts of interest. They do, however, cover their peers and rivals. Many investors believe that the banks are in…