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Previous Newsletters
Biden-Harris Elected; Jobless Claims Fall; LendingClub, Square, PayPal Earnings; Beijing Squashes an Ant
by Tito Donis | Nov 9, 2020
Greetings,The venerable Associated Press named Joe Biden and Kamala Harris as President and Vice President Elect this weekend.Republicans grew the number of seats in the House and maintained control of the Senate (notwithstanding two Georgia Senate run-off races in...
Record 3Q GDP Gains; M&A continues – Bread Sells to Alliance Data
by Tito Donis | Nov 2, 2020
Greetings,This week, we examine continued evidence of the U.S. consumer’s steady recovery, with household income up 0.9% and a record quarterly GDP increase; we share a few thoughts on the latest set of 3Q earnings, with “stabilization” as the key theme at OneMain and...
Recovery Continues; 3Q Earnings; Synchrony/Venmo launch Card; PayPal Embraces Crypto
by Tito Donis | Oct 26, 2020
Greetings,This week, we look at signs of a steady - if still slow and fragile - recovery, with new jobless claims falling to the lowest level since March; improving consumer credit scores shine a light on a system that needs an upgrade; PayPal’s embrace of Bitcoin;...
Five Months of Retail Spending Gains; Q3 Bank Earnings; FDIC RPP Competition
by Tito Donis | Oct 19, 2020
Greetings,This week, we look at the improving retail spending data, even as unemployment figures continue to flash warning signs; we recap a big week in 3Q earnings, with seven of the major banks reporting.Let’s get to it.-----Retail Sales Recover in Sept...U.S....
UE Claims Steady; LC Shuts Retail Note Platform; Klarna/Afterpay Partnerships
by Tito Donis | Oct 13, 2020
Greetings,This week, we look at the plateau in weekly unemployment claims, amid growing pessimism over fourth quarter growth; we look at the end of an era at LendingClub, which is shutting down its pioneering retail note platform; and, we highlight partnerships...
Unemployment Holds Steady; OCC FinTech Charter; Walmart Partners with Goldman
by Tito Donis | Sep 28, 2020
Greetings,This week, we discuss the stalling labor market recovery, with another week of 870,000 unemployment claims announced; touch on new regulations underway by the Fed and the OCC; and highlight Goldman’s continued push into digital small business lending with a...
Unemployment Claims Steadily Fall; The “Wile E. Coyote” Moment; Neo-Bank Raising
by Tito Donis | Sep 21, 2020
Greetings,This week, we look at the steady-and-slowing recovery in U.S. job markets, as unemployment claims fall and retail sales rise; the resiliency of the car loan market, surpassing initial pandemic-era expectations; and the red-hot investor demand for FinTech,...
Unemployment Falls; Inflation Expectations Tick Up; PayPal Aims at Affirm
by Tito Donis | Sep 7, 2020
Greetings,Heading into the holiday weekend, and with it the end of the strangest summer in our memory.We cover a few key developments this week: (1) the slow-but-steady improvement in labor markets as unemployment falls to 8.4% and jobless claims drop below the 1MM...
Fed Locks in Policy Revamp; Ant Group IPO; Betsy Cohen’s Fourth SPAC
by Tito Donis | Aug 31, 2020
Greetings,This week, we look at the new policy framework announced by Fed Chair, Jay Powell, at the virtual Jackson Hole; we look at Ant Group’s upcoming $200Bn (!) IPO; and the SPAC trend gets a new - seasoned - member.Let’s get to it.Fed Formalizes Shift in PolicyIn...
Unemployment Holds at 1MM; CO Settles True Lender Litigation; AmEx Acquires Kabbage
by Tito Donis | Aug 24, 2020
Greetings,Lots to cover this week. We touch on the (1) latest American unemployment data and a record monthly jump (25%) in existing home sales; (2) we recap 2nd quarter earnings; (3) we review a big industry result - the settlement of “true lender” litigation in...