Jumping ship before the biggest crash since 1929? t.co/y2JhS9Cfdk
— Financelot (@FinanceLancelot) May 20, 2024
CEO Jamie Dimon said they won't repurchase a lot of stock at current prices.
Repurchasing shares at a valuation of 2.3x tangible book value "is a mistake," Dimon said at the bank's Investor Day event.$JPM 📉 pic.twitter.com/Mlske58svY
— The Coastal Journal (@1CoastalJournal) May 20, 2024
I haven't talked about banks recently. Yesterday, the largest U.S. bank JP Morgan tanked when Jamie Dimon said he will retire sooner than expected (less than 5 years) AND no stock buybacks at these levels. Recall the stock tanked last month after earnings.t.co/EyfasyPN91 pic.twitter.com/49rfMMq22a
— Mac10 (@SuburbanDrone) May 21, 2024
JAMIE DIMON FLIRTS WITH RETIREMENT…
Banking sector
update.✍️⌚️
Ugly RED candle .
Looks set .⚠️ t.co/oaQ8LYziDx pic.twitter.com/JVMwMYCglU
— The Great Martis (@great_martis) May 20, 2024
Subprime Auto Loans Are Getting Messy.
Huge profits in subprime caused specialized dealers/lenders to take big risks, which came home to roost. But prime auto loans are in pristine shape.
Subprime doesn’t mean “low income,” it means “bad credit”; it means a history of taking on too much debt and not paying those debts and other obligations as agreed, which caused their FICO score to drop into the subprime category.
And subprime auto loans are getting into trouble, after the free-money era got them temporarily out of trouble. In April, 5.23% of subprime auto loans were 60 days or more delinquent, the worst April on record, and a hair above the prior record of April 2020.
The index is seasonal, with highs every January or February and lows in April or May, as tax-refund season bails out many a borrower. February 2024 had been the highest of any month on record with a delinquency rate of 6.4% (red). But prime auto loans are in pristine conditions (blue).
Source: Wolfstreet
Subprime Auto Loans Are Getting Messy.
Huge profits in subprime caused specialized dealers/lenders to take big risks, which came home to roost. But prime auto loans are in pristine shape.
Subprime doesn’t mean “low income,” it means “bad credit”; it means a history of taking on… pic.twitter.com/C6Ip9144CZ
— Wall Street Silver (@WallStreetSilv) May 21, 2024
Reverse repo facility
The Collective thinking , its heading to zero in coming weeks.
Below paints a different picture .
Rounding bottom ?
Rate rises on the horizon ? pic.twitter.com/4Mqwdcbw4l
— The Great Martis (@great_martis) May 20, 2024