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A Major Margin Call
The Compound and Friends
What Are You Looking for This Week?
The last time we heard from banks, they said they put aside loan loss reserves that were credit aggressive. The tradeoff for US banks and European banks is two things. One is higher rates should be positive for their interest income. But against that, you've got losses stemming from a weaker economic outlook. And it is the outlook because these banks have to take provisions up front for anticipated losses rather than rear view mirror taking them as they come to you.
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