ALERT: The U.S. government has reached the legal limit on how much money it can borrow, raising fears that the country may not be able to pay its bills. Congress has time to act before a possible default. #debtlimit#USdebt#default
6/ Due to inflation, large-cap banks are expected to guide to 2023 median expense growth of ~4%, above the consensus of 3%, with 55% of bank expenses being personnel costs. #ExpenseGrowth
5/ Morgan Stanley analyst Betsy Graseck forecasts that reserve ratios will increase by a median of 4 basis points Q/Q,"with provisions above the Street for every large-cap bank that we cover."Banks sensitive to the front end of the yield curve could produce further NII surprises.