Just how risky is it to trade the Argentine peso these days? One bank says it’s so dangerous that investors shouldn’t even bet against it.
"If anything, this is not time to be structurally positioned in ARS assets," BNP Paribas strategists led by Gabriel Gersztein wrote in a report today.
The peso, already the world’s worst-performing currency this year, tumbled anew today, dropping as much as 6.1 percent to a record low of 24.1 against the dollar.
Given the unidirectional trade, unabated for most of the past two weeks, you’d think that the smart move would be to short the peso. Not so, says BNP, even considering carry returns provided by world-beating 40 percent interest rates. The analysts at the French bank points to a host of concerns, including the fact that higher rates mean the government must spend more to finance its fiscal deficit, making it unsustainable.
Top 10 Bank Stocks To Invest In 2019: Ampco-Pittsburgh Corporation(AP)
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London (AP) — The British government said Sunday it is scrapping a promise to reconsider the ban on fox hunting, a centuries-old rural tradition contentiously outlawed more than a decade ago.
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Vatican City (AP) — Pope Francis has recognized as martyrs 19 people who were slain in Algeria in the 1990s, including a bishop killed by a car bomb and beheaded monks.
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Berlin (AP) — The U.N.'s nuclear watchdog says its top inspector has quit with immediate effect, just as the agency's work in Iran is once again in focus.
Top 10 Bank Stocks To Invest In 2019: Wells Fargo & Company(WFC)
- [By Ben Levisohn]
Big banks like JPMorgan Chase (JPM), Wells Fargo (WFC), and Bank of America (BAC) have surged more than 20% during the past three months–causing many investors to doubt the possibility for further gains. I’m note one of them–after my disastrous financials call last year, I’m bullish on them in 2017–and neither is Morgan Stanley’s Betsy Graseck, who remains Overweight the big banks, despite their big gains. She explains why:
- [By John Maxfield]
What’s the deal? The answer is that not all of the bank stocks selected by Warren Buffett for Berkshire Hathaway’s portfolio performed equally well this year. One in particular dragged down its returns: Wells Fargo (NYSE:WFC).
- [By Douglas A. McIntyre]
Wells Fargo & Co. (NYSE: WFC), plagued by a long list of banking rule violations and hundreds of millions of dollars in government penalties, has launched a new marketing campaign:
- [By Jim Cramer]
After a year of stock price fluctuations, the net result is that WFC’s price has not changed very much. Although its weak earnings growth may have played a role in this flat result, don’t lose sight of the fact that the performance of the overall market, as measured by the S&P 500 Index, was essentially similar. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
- [By Alexander Bird]
Under the new law, the nation’s corporate tax rate has been slashed from 35% to 21%, giving banks an immense tax break. Both JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC) have estimated they will end up paying an effective tax rate of 19% in 2018, well below the corporate average.
Top 10 Bank Stocks To Invest In 2019: First Commonwealth Financial Corporation(FCF)
- [By SEEKINGALPHA.COM]
The last year Netflix generated positive free cash flow (FCF), was 2010, which happens to coincide with the year it began significantly increasing its content library, per Figure 2 above. Since then, Netflix has burned through cumulative $3.6 billion in cash, per Figure 3, and the cash burn is only accelerating. In 2015, NFLX’s FCF sat at -$1.6 billion, and over the last twelve months, FCF has worsened to -$1.9 billion.
Top 10 Bank Stocks To Invest In 2019: Canadian Imperial Bank of Commerce(CM)
- [By Logan Wallace]
Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Analysts at Desjardins reduced their Q2 2018 earnings per share estimates for Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Wednesday, May 2nd. Desjardins analyst D. Young now forecasts that the company will post earnings of $2.85 per share for the quarter, down from their prior estimate of $2.86.