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US Strategy: What to Watch for on 3Q Earning Calls

Strategy Analysis: 11 Oct 2018, 4:37 AM ET - We surveyed our analyst teams for key sector level issues they will be paying close attention to with upcoming third quarter earnings calls beyond the typical sales, margins and earnings guidance. 

Register Now: 2018 Global Financials Seminars

Announcement: 10 Sep 2018, 9:51 PM ET - Register for our upcoming fifth annual Global Financials Seminars.

Interplay Between US Banks & Fed's Balance Sheet

Sector Analysis: 08 Aug 2018, 5:36 AM ET - In this note, we discuss the impacts of the Fed's balance sheet unwind on banks. We expect that U.S. banks will become the "natural buyers" of U.S. Treasuries not bought by the Fed, offsetting the impact on rates.

US Banks: Update to 2018 Debt Supply Forecast

Sector Analysis: 09 Jul 2018, 5:49 AM ET - Following a review of 1H18 debt supply, we are increasing our supply forecast for the full year for the banks in our coverage universe. The majority of the increase reflects increased expectations for OpCo debt from the GSIBs.

CreditSights 2017 Global Financials Seminar

Announcement: 13 Sep 2017, 5:04 AM ET - Please join us for our upcoming Global Financials Seminar in New York on October 4.

Euro Insurers: Exposure to Harvey

Worth Watching: 30 Aug 2017, 4:29 AM ET - Euro Insurers will certainly be exposed to the nat cat Harvey that has recently occurred in Texas, USA. But, at this stage, the difficulty is to know how much they are exposed to Harvey. We think it is too early to have a fair opinion on their ..

Global Insurance Rendez-Vous: Life Profitability

Global Insurance Rendez-Vous: 20 Jul 2017, 11:08 AM ET - In this article, we discuss the profitability of Life insurers in Europe and the United States.

Insurance: Taking a Closer Look at CAT Bonds

Sector Analysis: 08 Jun 2017, 11:47 PM ET - Catastrophe bonds are an alternative asset class without credit or interest rate risk, that we think some investors might want to consider.

US IG Sector Recs: A Very "In Line" April

Sector Weightings: 09 May 2017, 5:22 AM ET - After a weak March the IG index returned to positive territory, but most sectors reported excess return within +/- 5bp of the overall index. We discuss performance and update our sector recommendations. 

US IG Sector Slide Pack: April 2017

Sector Weightings: 08 May 2017, 11:18 PM ET - Our US IG Sector Slide Pack: April 2017 includes spread, return and attribution data for many of the Level 3 and Level 4 sectors of the BAML Index.  We look at both monthly and year-to-date performance. 

Sector Update March 2017 - US Financials

Sector Weightings: 10 Apr 2017, 8:15 PM ET - The Financials sector was the top performing sector in the month, with strong outperformance driven primarily by the Insurance sub-sectors. We maintain our positive view on the US Large Banks and Life Insurance sub-sectors.

U.S. Financials: Trends in Shareholder Returns

Sector Analysis: 10 Apr 2017, 5:19 AM ET - In this note we examine trends in share repurchase and dividend activity. We highlight names returning the most capital to shareholders, discuss YoY changes, and examine the prospects for individual companies.

Sector Update February 2017 - US Financials

Sector Weightings: 12 Mar 2017, 8:11 PM ET - The US Financial sector's performance was in line with the overall market in February, returning 49 bp of excess return to the index's 50 bp. We continue to hold favorable views on the US Large Banks and Life Insurance sub-sectors.  

Sector Update January 2017 - US Financials

Sector Weightings: 09 Feb 2017, 8:14 PM ET - The Financials sector largely performed in-line with the IG index in January, returning 17 bps of excess return. However, performance was limited due to a weak month for Banks, as investors were concerned with in TLAC-related developments. 

Sector Update December 2016 - US Financials

Sector Weightings: 12 Jan 2017, 9:33 PM ET - Financials ended 2016 underperforming, generating only 45 bp of excess return vs. the IG index's 76 bp. However, with higher rates and increased economic activity, we maintain our positive view on Banks and Life Insurance companies.

Sector Update November 2016 - US Financials

Sector Weightings: 08 Dec 2016, 9:40 PM ET - The Financial sector largely performed in line with the overall IG market in November, with U.S. Large Banks a top performer. We upgrade our rec on P&C insures to Market perform, on the back of higher treasury yields.

Upcoming NY IG & HY Conferences

Announcement: 29 Nov 2016, 8:54 PM ET - Join us in New York on Tuesday, December 13, 2016 for our upcoming conferences.

Sector Update October 2016 - US Financials

Sector Weightings: 14 Nov 2016, 9:28 PM ET - After a tough month in September, the US Financial sector largely changed course, outperforming the overall market in October. We see performance in November being closely tied to the election results. 

Sector Update September 2016 - US Financials

Sector Weightings: 12 Oct 2016, 3:43 AM ET - The Financial sector was the worst performing in September, dragged down by the headlines in Banking which makes up a large majority of the index.  We downgrade our recommendation on P&C Insurance, as M&A event risk has increased. 

Sector Update August 2016 - US Financials

Sector Weightings: 15 Sep 2016, 5:05 AM ET - Despite the underperformance of the sector for most of 2016, we believe Financials are well positioned for stable returns in the near-term. However, we think significant outperformance is limited given the relatively tight spreads.

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