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16.10.25 - 20:01
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Regional Banks Crash As More Credit "Cockroaches" Emerge (ZeroHedge)
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Regional Banks Crash As More Credit "Cockroaches" Emerge
Just when the market was starting to finally freak out - with a one month delay - about the Tricolor and First Brands bankruptcy following yesterday's fingerpointing session between JPM's Jamie Dimon and various private credit firms in which both accused each other of harboring more credit "cockroaches", this morning the credit freak out went to 11 as two regional US banks crashed after they both disclosed problems with loans involving allegations of fraud, adding to concern that more cockroaches are indeed emerging in borrowers' creditworthiness.
Shares of Zions Bancorp plunged 10% after it disclosed a $50 million charge-off for a loan underwritten by its wholly-owned subsidiary, California Bank & Trust, in San Diego. And Western Alliance Bancorp tumbled as much as 11% after it said it's dealing with a borrower that failed “to provide collateral loans in first position.” i.e., there was fraud, just like in th...
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16.10.25 - 19:24
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Zions, Western Alliance Disclose Bad Loans (Bloomberg)
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Two regional US banks, Zions Bancorp and Western Alliance Bancorp, disclosed problems with loans involving allegations of fraud. Zions Bancorp disclosed a $50 million charge-off for a loan underwritten by its wholly-owned subsidiary, California Bank & Trust, while Western Alliance said it's dealing with a borrower that failed “to provide collateral loans in first position.” Sally Bakewell reports on Bloomberg Television....
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16.10.25 - 18:54
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WTF Is Going On... (ZeroHedge)
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WTF Is Going On...
The markets are a little wild today and there is no specific item driving it from what we can see.
Here are a few that we are hearing
16th day of the shutdown and no signs of a break (chatter that it may last til Thanksgiving)
Geopolitical risk rising: Lengthy Putin call, China-US trade tensions escalating, India ignoring Trump demand to stop buying Russian oil
Regional bank angst - Zions and Western Alliance down big on loan losses.
US funding market stress - surging SOFR rates signaling a liquidity shortage
WTF is going on...
Stocks are tanking...
Bonds are aggressively bid with 2Y yields are suddenly collapsing (10Y back below 4.00%)...
Gold is going vertical (up)...
And crypto is going vertical (down)...
If we had to guess, we would say this is mostly related to the funding stress finally being recognized by a broader set of market participants as it seems demand for 'good' collateral is on the rise (gold and short-dated bonds) and leveraged risky ...
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02.10.25 - 19:00
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Zions (ZION) Could Be a Great Choice (Zacks)
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Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Zions (ZION) have what it takes? Let's find out....
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