Comments will be light due to the holiday.
Conferences:
- PeerIQ will speak on a panel at AltLend 2016 on July 13-14 in New York.
- CEO, Ram Ahluwalia, and Head of Quantitative Strategies, Wilfred Daye, will participate in LendIt China, speaking on panels at the Lang Di Fintech Conference in Shanghai, China from July 17-18.
- PeerIQ will speak at the AltFi Global Summit on September 14th in New York.
Industry Update:
- Capital Rules Stifling Securitized-Debt Trading Profit: JPM (Bloomberg, 6/27/16) New layers of regulatory capital will further pressure banks to exit trading of securitized debt.
- LendingClub Corp: Positive Updates from the Annual Meeting (Morgan Stanley, 6/29/16) LC provided updates on investor appetite, 2Q origination outlook, investor incentives, and cost base, all of which should help rebuild confidence in the stock.
- Lenders Rejected by Supreme Court on State Interest Caps (Bloomberg, 6/27/16) On Monday, June 27, the Supreme Court of the United States denied the petition in Midland Funding LLC v. Madden, consistent with Solicitor General recommendation.
- Bond Markets Have a Message About the Economy That Stock Investors Might Not Want to Hear (Bloomberg, 7/4/16) Deutsche Bank bond model now points to 60% chance of U.S. recession in the next 12 months.
- Rundown of Regulator Interest in Marketplace Lending (LendAcademy, 6/30/16) Highlights of the current government organizations involved in MPL and what their role is within the industry.
- U.S. Banks Beat Fed’s Test as Deutsche Bank, Santander Fail Anew (Bloomberg, 6/29/16) Fed stress test including 10% unemployment shock and negative Treasury rates leads to expected aggregate loan losses of $385 Bn.