Wells Fargo

Frontrunning: November 28

  • Trump Alleges That ‘Millions of People’ Voted Illegally (WSJ)
  • Oil slip sends dollar, bond yields skidding (Reuters)
  • Italian Lenders Slide on Vote Worries to Drag Down Europe Stocks (BBG)
  • OPEC makes last-ditch bid to save oil deal as tensions grow (Reuters)
  • How Iran, Russia Could Derail Oil-Production Deal (WSJ)
  • Tug of War Delays Some of Trump’s Key Appointments (WSJ)

On That 'Concession' Speech (aka Meet The New Clinton Inc.)

"...as I watched Mrs. Clinton’s concession speech I couldn’t help but marvel at what I believed to be watching. For if I’m correct, what transpired at that presser was more inline with a business turnaround, or business crisis PR announcement event (think Tylenol or even Wells Fargo for base-case relevance) rather than just your typical political concession speech."

Frontrunning: November 11

  • Conquering Trump comes to DC (The Hill)
  • Trump’s Data Team Saw a Different America—and They Were Right (BBG)
  • Trump victory prompts U.S. fund managers to focus on inflation (Reuters)
  • Dollar’s Trump-Inspired Surge Sets Off Intervention Across Asia (BBG)
  • Trump Camp Works to Form Cabine (WSJ)

Frontrunning: November 8

  • At last, America decides (Reuters)
  • America’s Voters Finally Get Their Day (BBG)
  • This Election Has One Sure Thing: A More Dysfunctional Congress (BBG)
  • Control of the Senate Goes Down to the Wire (WSJ)
  • 2016 Election Day: Live Results and Analysis (WSJ)
  • Dollar Volatility Drops as Clinton Leads in Final Election Poll (BBG)

Frontrunning: November 4

  • Stocks Extend Pre-Vote Selloff as Treasuries Gain; Lira Weakens (BBG)
  • Fears over US election spur investors’ dash for cash (FT)
  • Republican Voters Rallying to Trump Leave Party Leaders in Awkward Spot (BBG)
  • Trump gains ground on Clinton: Reuters/Ipsos States of the Nation (Reuters)
  • Hillary Clinton take 3-point lead in the latest ABC News/Washington Post tracking poll results (ABC)

Wells Fargo Confirms SEC Probing Its Sales Practices

In the Legal Actions section of its just filed 10-Q, Wells Fargo confirmed that the bank is the object of an SEC probe, as well as various other government, state and local agencies are looking into its sales practices and reported that a "a number of lawsuits have also been filed by non-governmental parties seeking damages or other remedies related to these sales practices."

Frontrunning: November 2

  • U.S. Election Angst Spreads as Stocks Drop, Bonds Rise (BBG)
  • Fed Doesn’t Aim to Push Inflation Beyond 2% (WSJ)
  • Tighter Race Brings a Shift in Tactics (WSJ)
  • After another release of documents, FBI finds itself caught in a partisan fray (WaPo)
  • Trump Tells Early Voters to Change Their Ballots If They Have 'Buyer's Remorse' (ABC)
  • More Pot, Fewer Guns, Higher Pay: Other Big Issues on the Ballot (BBG)
  • Banks No Longer Make the Bulk of U.S. Mortgages (WSJ)

Let Crude Crash: US Oil Producers Are Hedging At Levels Not Seen Since 2007

Short positions in WTI futures contracts held by producers or merchants totaled more than 540,000 contracts as of October 2016, the most since 2007. Banks have tightened lending standards as crude oil prices declined, and some banks require producers to hedge against future price risk as a condition for lending. As a result, an oil crash may be just the windfall domestic shale producers need.

Waking Up In Hillary Clinton's America

With less than two weeks to go before E-day -- despite the Trumptilian upheaval of the last year -- the high probability of a Clinton win means the establishment remains intact. When we awaken on November 9th, it will undoubtedly be dawn in Hillary Clinton’s America and that potentially means four years of an economic dystopia that will (as would Donald Trump’s version of the same) leave many Americans rightfully anxious about their economic futures.