RSS feedBarclays Capital
’Stress-testing BBVA and Santander
Posted by Neil Hume on Feb 24 10:31. Comment.The price action in BBVA and Banco Santander on Wednesday morning:
The reason for the weakness appears to be a Barclays Capital downgrade.
The BarCap banking team, led by the highly rated Tom Rayner, More…
Greece: Take fewer holidays! (and other suggestions)
Posted by Izabella Kaminska on Feb 17 11:32. Comment.That’s just one of the helpful suggestions from the securitisation team at Barclays Capital to Greece, which of course is struggling to meet its fiscal shortfall.
Others include raising revenues by selling off state assets a la Poland, More…
Barclays beats
Posted by Neil Hume on Feb 16 09:25. Comment.Wow. That’s the early price action in Barclays after full-year results came in 6 per cent ahead of City expectations.
An early reading of the 116-page results statement suggests the beat was down to lighter than expected impairments. More…
Euro-breakup: Not necessarily a credit event
Posted by Izabella Kaminska on Feb 12 15:53. Comment.So says Barclays Capital, in a note on everything you ever wanted to know about sovereign CDS trading, but were afraid to ask.
Indeed, according to the analysts, a credit event would only transpire in the event of a currency redenomination, More…
Bond on bonds – disaster ahead
Posted by FT Alphaville on Feb 11 19:05. Comment.By the FT’s Chris Flood
Government bond markets are facing a decade of “disastrous returns”, according to Tim Bond, head of asset allocation at Barclays Capital.
Bond reckons unfavourable demographic trends mean long term-yields in the US and UK will double from current levels over the next ten years, More…
Anything but porcine at BarCap
Posted by Tracy Alloway on Feb 05 09:15. Comment.FT Alphaville and the FT are not allowed to say PIIGS a certain porcine acronym.
But we are in good company. Neither, it seems, is Barclays Capital.
The memo below is currently doing the rounds at the British bank: More…
Prop(er) pictorial irony at Barclays
Posted by Tracy Alloway on Jan 27 10:32. Comment.
More proprietary trading pictorial irony here and here.
Related link:
Barclays plays down impact of Obama proposals – WSJ
Lloyds needs to sell Scottish Widows
Posted by Neil Hume on Jan 25 09:29. Comment.The idea that bank capital regulations will be a ‘game changer’ for the sector is gathering momentum.
Last week, we heard that Barclays might need to find an extra £17bn under Basel III and that Lloyds Banking Group and HSBC might see their equity Tier 1 capital reduced to 4.4 per cent and 6 per cent respectively. More…
Barclays needs more capital
Posted by Neil Hume on Jan 19 09:54. Comment.Around £17bn of it, according to Jonathan Pierce, banking analyst at Credit Suisse
The reason, as you might have guessed, are the latest proposals on capital requirements from the Basel Committee on Banking Supervision, More…
From Obama to Europe with love
Posted by Tracy Alloway on Jan 15 08:51. Comment.It’s been nearly 24 hours since US president Barack Obama unleashed details of his bank levy on Wall Street. That means we are starting to get some estimates from analysts on the cost of the tax, which would begin on June 30, More…
Snap news
Posted by Izabella Kaminska on Jan 14 07:32. Comment.Breaking pre-market news on Thursday,
- EFG-Hermes in discussions to sell its stake in Bank Audi – statement.
- Gulf Keystone upgrades oil in place estimate at Shaikan discovery to 1.9-7.4bn barrels of oil. More…
BarCap’s funding findings
Posted by Tracy Alloway on Jan 05 12:18. Comment.The last of our Barclays Capital’s European bank special is a funding finale.
This is, of course, something which has been mentioned before.
The withdrawal of cheap central bank liquidity, a wall of short-term debt that will need to be refinanced and the continued weakness in the securitisation market, More…
BarCap’s ‘credit surprise’ snapback
Posted by Tracy Alloway on Jan 05 10:11. Comment.A portion of Barclays Capital’s 351-page European bank bonanza published on Tuesday, discusses the possibility of a “credit quality surprise” in 2010. That is, a decline in the number of non-performing loans (NPL), More…
BarCap calculates the cost of ‘Too Big To Fail’
Posted by Tracy Alloway on Jan 05 09:24. Comment.Barclays has done a number on European banks. On Tuesday morning it has published a full 351 pages worth of research, in six separate notes, as it started coverage of the sector with the team it poached from Citigroup. More…
BarCap subsidiary sued for being Hamp-ered
Posted by Tracy Alloway on Dec 21 13:07. Comment.Readers of FT Alphaville will know that the US government is hell-bent on making its Home Affordable Modification Plan, aimed at making loan modifications to help keep US homeowners in their houses, a success. More…
Hochtief Concessions IPO on a knife edge
Posted by FT Alphaville on Dec 03 18:56. Comment.Germany’s largest stock market flotation in two years is battling for survival.
Construction group Hochtief has failed to generate the expected level of investor appetite for the IPO of its infrastructure arm, More…
Barclays Capital ‘change their view’ on Dubai
Posted by Izabella Kaminska on Nov 26 12:04. Comment.My, my, what a difference a few weeks make.
Earlier this month — when all still seemed relatively well in the UAE emirate of Dubai — Barclays Capital was among those touting Dubai-related debt as a decent investment for clients. More…
Nakheel: Famous last words…
Posted by Miles Johnson on Nov 26 09:51. Comment.Entry on the Nakheel Sukuk from the Islamic Finance News “Deals of the Year” 2006 awards (presented without comment):
On the 14th December 2006 Dubai Islamic Bank (DIB) along with Barclays Capital closed the three year Pre-QPO Equity Linked Sukuk al-Ijarah of US$3.52 billion for Nakheel. More…
Lehman seeks $10bn from BarCap
Posted by Gwen Robinson on Nov 17 04:53. Comment.Attorneys representing the estate of Lehman Brothers filed a lawsuit on Monday against Barclays Capital, in efforts to claw back as much as $10bn that it claims was transferred to the UK bank last year in the frenzied days following Lehman’s bankruptcy. More…
Guess the balance sheet
Posted by Izabella Kaminska on Nov 12 12:14. Comment.If you’re still trying to get your head around how contingent convertible notes — CoCos — might help the banking sector the following will be of interest.
First, consider the below table from Barclays Capital analyst Bruno Duarte: More…
BarCap spoiler at Barclays party
Posted by Gwen Robinson on Nov 11 04:50. Comment.Shares in Barclays, the UK’s second-largest bank, fell 5% on Tuesday despite healthy Q3 profits and reinstatement of its dividend after almost a year. Analysts said the decline was a reaction to the 31% quarterly fall in investment banking revenue to £3.7bn, More…
Distillate distress, continuing for now
Posted by Izabella Kaminska on Nov 03 13:15. Comment.US distillate demand data for August tell a bleak tale, according to Barclays Capital. The latest monthly data available , BarCap analysts report, came out at 3.38mb/d, the lowest reading recorded since July 2000. More…
The great wall of cash
Posted by Neil Hume on Oct 06 16:30. Comment.Just how much cash is sitting on the sidelines? That’s a question many people are asking right now, with seemingly everything (except the US dollar) rising.
Fortunately, Tim Bond, the head of asset allocation at Barclays Capital, More…
Lehman creditors challenge transfer to BarCap
Posted by Stacy-Marie Ishmael on Sep 16 04:47. Comment.Representatives of the defunct Lehman Brothers estate asked a US judge to re-open the contract that transferred the bank’s North American assets to Barclays Capital a year ago, claiming that up to $8bn in cash and securities was transferred to BarCap without the court’s knowledge, More…
BarCap fined for data failure
Posted by Gwen Robinson on Sep 09 05:43. Comment.Barclays Capital, the investment banking arm of Barclays, has been fined £2.45m for inaccurately reporting 57.5m transactions to the London City regulator, the largest fine of its kind. The UK’s FSA More…
Rothschild banker goes to BarCap
Posted by Gwen Robinson on Sep 08 04:24. Comment.Barclays Capital has hired NM Rothschild & Sons’s global co-head of financial institutions, Stefano Marsaglia, as chairman of its world-wide financial-institutions group, a signal of the investment bank’s global ambitions, More…
BarCap eyes SWF tie-ups for resources
Posted by Gwen Robinson on Sep 07 04:57. Comment.Barclays Capital is planning to team up with sovereign wealth funds to buy natural resources assets including mines, oilfields and power plants. The move signals new appetite for physical commodities amid a revival in prices, More…
BarCap pay offer questioned
Posted by Stacy-Marie Ishmael on Aug 17 04:43. Comment.JPMorgan asked the FSA to review a multi-million pound compensation package being offered to lure one of its star proprietary traders to rival Barclays Capital, the investment banking arm of Barclays, the FT reported. More…
HFT correlations at BarCap
Posted by Izabella Kaminska on Aug 04 13:58. Comment.Paul Krugman, Princeton prof and general uber-commentator, is among the latest market watchers to jump into the high frequency trading debate. He argued in a New York Times op-ed at the weekend that the practice of using “super-fast” More…
Lex: HSBC and Barclays
Posted by John Casey, FT on Aug 03 16:22. Comment.Staying free of the UK government’s embrace is beginning to pay dividends for both HSBC and Barclays.
Like their US counterparts, both banks have reaped the benefits of less competition and solid customer flows in debt and currency trading. More…