Highlight of the Week
Banks expecting tighter lending standards and weaker loan performance in 2020
- Fed’s quarterly survey shows banks expect decline in subprime credit card and auto loan performance
- Recession fears have faded temporarily
Rate Curves
Rapid Report:
Goldman in talks to partner with Amazon
- Goldman Sachs is in talks to offer small business loans on Amazon’s sprawling e-commerce platform.
- The loan platform would theoretically allow Goldman to plug into Amazon’s existing loan platform.
- Goldman notably partnered with another tech-giant last year when they launched the Apple Card. CEO David Solomon continues to provide investors a vision for the bank’s future, which includes becoming “banking-as-a-service” for the business world.
Citigroup suspends trader for stealing from cafeteria
- A junk-bond trader in London reportedly had repeatedly failed to pay for food taken from the bank’s cafeteria.
- The FCA said it expected finance workers to act with integrity at all times.
Kansas City claims Super Bowl
The Chiefs scored 21 unanswered to defeat the San Francisco 49ers 31-20.
