BAC

Tyler Durden's picture

Frontrunning: June 21





  • Turmoil Exposes Global Risks (WSJ)
  • China Money Rates Retreat After PBOC Said to Inject Cash (BBG)
  • Fed Seen by Economists Trimming QE in September, 2014 End (BBG)
  • Booz Allen, the World's Most Profitable Spy Organization (BBG)
  • Abe’s Arrows of Growth Dulled by Japan’s Three Principles (BBG)
  • China steps back from severe cash crunch (FT)
  • Smog at Hazardous as Singapore, Jakarta Spar Over Fires (BBG)
  • U.S. Weighs Doubling Leverage Standard for Biggest Banks (BBG)
 
Tyler Durden's picture

Frontrunning: June 20





  • Bonds Tumble With Stocks as Gold Drops in Rout on Fed (BBG)
  • Bernanke Sees Beginning of End for Fed’s Record Easing (BBG)
  • Gold Tumbles to 2 1/2 Year-Low After Fed as Silver Plummets (BBG)
  • PBoC dashes hopes of China liquidity boost (FT)
  • U.S. Icons Now Made of Chinese Steel (WSJ)
  • Emerging Markets Crack as $3.9 Trillion Funds Unwind (BBG)
  • Everyone joins the fun: India sets up elaborate system to tap phone calls, e-mail (Reuters)
  • China Manufacturing Shrinks Faster in Threat to Europe (BBG)
  • More on how Syria's Al-qaeda, and now US, supported "rebels", aka Qatar mercenaries, operate (Reuters)
  • Echoes of Mao in China cash crunch (FT) - how dare a central bank not pander to every bank demand?
  • French watchdog tells Google to change privacy policy (Reuters)
 
Tyler Durden's picture

Frontrunning: June 17





  • Obama prepares for chilly talks with Putin over Syria (Reuters)
  • G8 opens amid dispute on Syria arms (FT)
  • Economists Blame Fed for Higher Bond Yields (WSJ) - wait... what? Isn't the "stronger economy" to blame?
  • What a novel concept - In the Czech Republic, a spying scandal has forced the PM to resign (BBG)
  • Rigged-Benchmark Probes Proliferate From Singapore to UK (BBG)
  • Economists Wary as Fed's Next Forecast Looms  (Hilsenleak)
  • Banks Balk at New Rules for Small Loans (WSJ)
  • Sporadic clashes in Turkey as Erdogan asserts authority (Reuters)
 
CalibratedConfidence's picture

Haim Bodek's Presentation To TradeTech On HFT And His Controversial Findings





"I am going to hit on some of the landmines that you can encounter within order-matching engines, and then I am going to give a forecast on, at least from my perspective, what’s going to happen over the course of 2013"

 
bmoreland's picture

2013 Q1 Bank Net Income Review





Bank of America, Wells Fargo and JPMorgan Chase control 67.87% of 1-4 Family First Liens NPLs yet only had 32.62% of the charge offs in the quarter.

 
Tyler Durden's picture

Frontrunning: June 7





  • Reports on surveillance of Americans fuel debate over privacy, security (Reuters)
  • Apple to Yahoo Deny Providing Direct Access to Spy Agency (Bloomberg)
  • Misfired 2010 email alerted IRS officials in Washington of targeting (Reuters)
  • Spy vs Spy: Cyber disputes loom large as Obama meets China's Xi (Reuters)
  • When NSA Calls, Companies Answer (WSJ)
  • How the Robots Lost: High-Frequency Trading's Rise and Fall (BBG)
  • Japan's Pension Fund to Buy More Stocks  (WSJ)
  • ‘Frankenstein’ CDOs twitch back to life (FT)
  • China’s ‘great power’ call to the US could stir friction (FT)
  • Toyota Tries on Corolla Look That’s Just Different Enough (BBG)
 
Tyler Durden's picture

Frontrunning: June 5





  • National Security Advisor Tom Donilon resigning, to be replaced by Susan Rice - Obama announcement to follow
  • Japan's Abe targets income gains in growth strategy (Reuters), Abe unveils ‘third arrow’ reforms (FT) - generates market laughter and stock crash
  • Amazon set to sell $800m in ads (FT) - personal tracking cookie data is valuable
  • 60 percent of Americans say the country is on the wrong track (BBG)  and yet have rarely been more optimistic
  • Jefferson County, Creditors Reach Deal to End Bankruptcy (BBG)
  • Turks clash with police despite deputy PM's apology (Reuters)
  • Rural US shrinks as young flee for the cities (FT)
  • Australia holds steady on rate but may ease later (MW)
  • The Wonk With the Ear of Chinese President Xi Jinping (WSJ)
  • Syrian army captures strategic border town of Qusair (Reuters)
 
Tyler Durden's picture

Frontrunning: May 30





  • Japan’s Stocks Correction Raises Stakes for Abe’s Growth Plan (BBG)
  • China Failure to Grow With $1 Trillion Is Warning to Li (BBG)
  • Blankfein Leads Bank CEO Pay With $26 Million Deemed Overpaid (BBG)
  • IMF says ‘no evidence yet’ of Abenomics hurting other economies (FT)
  • Europe Seeks CFTC Delay in Imposing Swaps Rules on Banks (BBG)
  • Fed's Rosengren: 'Modest' QE3 cut may make sense in a few months (Reuters)
  • Who’s who of Obama lobbyists pushes Keystone pipeline (FT)
  • China to Study Joining U.S.-Led Trade Accord After Japan Added (BBG)
 
Tyler Durden's picture

Frontrunning: May 23





  • Global shares sink, following 7.3 percent drop in Japan's Nikkei (Reuters)
  • When all fails, pull a Kevin Bacon: Japan Economy Chief Warns Against Panic Over Stock Sell-Off (BBG)
  • White House Feeds IRS Frenzy by Revising Accounts (BBG)
  • In any scandal, lying to Congress is tough to prove (Reuters)
  • Debt limit resets at higher level, budget impasse grinds on (Reuters)
  • China factory data to test political calculations (FT)
  • European Leaders Saying No to Austerity (BBG)
  • And yet, nobody wants in anymore: Iceland’s new coalition government suspends EU accession talks (FT)
  • Oil Manipulation Inquiry Shows EU’s Hammer After Libor (BBG)
  • The Fed Squeezes the Shadow-Banking System (WSJ)
  • Diamond Said to Weigh Backing Barclays Alumni in Venture (BBG)
  • Spain’s Private Jets Disappearing as Tycoons Cut Flights (BBG)
 
Tyler Durden's picture

Frontrunning: May 20





  • Obama's Counsel Was Told of IRS Audit Findings Weeks Ago (WSJ)
  • North Korea fires sixth missile in three days (Reuters)
  • Enron No Lesson to Traders as EU Probes Oil-Price Manipulation (BBG)
  • Don't cry for me, Eurozone: Thinking the Unthinkable - Quitting a Currency (WSJ)
  • H-1B Models Strut Into U.S. as Programmers Pray for Help (BBG)
  • Gold Bear Bets Reach Record as Soros Cuts Holdings (BBG)
  • Yahoo has agreed to pay $1.1 billion for Tumblr (WSJ)
  • JPMorgan Holders Led by Chairmen-CEOs to Vote on Dimon (BBG)
  • Apple faces grilling over US tax rate (FT)
  • Nissan to Sell First Joint Minicar to Expand in Japan Market (BBG)
  • Fierce battle for corporate loans sparks US bank risk concerns (FT)
  • Microsoft Updates Xbox as Apple to Facebook Gain in Games (BBG)
 
Tyler Durden's picture

Frontrunning: May 10





  • PBOC Says China Shouldn’t Be ’Blindly Optimistic’ on Inflation (BBG)
  • Foreigners Buying Half of London New Homes Prop Up Building (BBG) - first they come for the foreign deposits, then for the real assets...
  • Investors Rediscovering Margin Debt (WSJ) - well, yes: it is at record highs
  • China issues new rules targeting wealth management fund pools (RTRS)
  • Navy $37 Billion Ships Seen Unsuitable Have 2-Year Window (BBG)
  • New York may have to drop claims against BofA over Merrill (RTRS)
  • FBI Rejects Boston Police Stance in Spat Over Terror Data (BBG)
  • In eastern Syria oil smugglers benefit from chaos (RTRS)
 
Tyler Durden's picture

Bank Of America Q1 Profitable Trading Days: 100%





After the "humiliating" performance in Q4 2012, when Bank of America had a whopping 2 trading loss days out of 61, in has managed to redeem itself in the first quarter of 2012, when not only did it record seven trading days when it generated revenue of over $100 million daily, but more importantly it had zero days (of 60 total) with any net trading losses: a track record that can only be matched by any daytrader on Twitter. After all, what is better than trading when there is no risk of loss.

 
Tyler Durden's picture

Bank Of America's Latest Credit Trade Reco: "We Got Crushed"





It is one thing for Bank of America's chief credit strategist Hans Mikkelsen to be wrong on his long-term strategic call about a "Great Rotation" out of bonds and into stocks year... after year... after year (somewhat ironic that the credit guy gets the equity call right, and is dead wrong on the credit side). After all, it has gotten to the point where the buyside bets how long it takes until the latest vintage of said "great" call blows up in his face. These are, after all, "strategic" call, and as everyone knows, when the sellside says one thing strategically, it is time to do the other. However, not even the most jaded and cynical of market observers had any clue just how spectacular Mikkelsen's "tactical" call implosion would be.  Apparently, neither did he. And judging by his language, his clients - if there are any left of course - most certainly did not either.  "We wrote last Friday that this week would be crunch time for our challenged tactical (short term) short stance on the market, expressed by buying protection on the CDX.IG. We got crushed. Thus we remove our tactical view and cover the short."

 
Tyler Durden's picture

This Is Why The $1.6 Billion MBIA Settlement Will Have Zero Impact On Bank Of America's Q2 Earnings





Moments ago, Bank of America and MBIA both formally announced the earlier leaked settlement that sees the bank pay the monoline a long-overdue $1.6 billion in cash plus the issuance of MBIA warrants to buy 9.94 million shares, or 4.9%, of MBI stock at an exercise prices of $9.59/share, which may be exercised at any time prior to May 2018. It is perhaps worth point out that the settlement took place with nearly half of the second quarter already in the books. In addition, BAC will also provide a $500MM credit facility to MBIA. End result: a $1.6 billion pretax charge for Bank of America. And yet, none of this settlement will impact any Bank of America Q2 numbers. Why? The press release explains.

 
Tyler Durden's picture

MBI Saga Over: Bank Of America To Settle Long-Running Litigation, Take 5% Stake; MBIA Stock Soars 50%





The seemingly endless MBIA saga, in which the mortgage insurer sued Bank of America and where a settlement has been overdue for some two years (see here), is finally coming to an end. Moments ago Dow Jones reported what the final settlement may look like: $1.6 billion in cash as well as a $500 million line of credit. Just as notable, BAC will buy a 5% equity stake in the name. MBIA was briefly halted as a circuit breaker was triggered, and has continued to surge following the unhalt. As a reminder, a settlement in this case may push the company into the $20 handle realm. Finally, our report from September 2011 on MBIA's potential to be the next Volkswagen courtesy of its massive short interest as a percent of float can be found here.

 
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