Hints and tips:
Related Special Reports
...ECB vice-president Luis de Guindos told Le Monde this week that the central bank would “need to take the impact of exchange rate movements into account”....
...Attention will focus on the words of Fed chair Jay Powell after the meeting....
...Banque de France governor François Villeroy de Galhau told Les Echos that he expects continued cutting “at a pragmatic pace” after June....
...It’s de-risking in one way, and risking up in another. Why is that?...
...Pablo Hernández de Cos, Spain’s central bank governor and ECB council member, responded to the latest fall in eurozone inflation by saying “the central scenario is that June could be the first interest rate...
...Žygimantas Pavilionis, a senior MP from the ruling party Homeland Union, urged other EU countries to also ditch the bloc’s de-risking strategy. “We need to decouple,” he said....
...Additional contributions from Camille De Guzman and Benjamin Wilhelm...
...Now, the market-implied year-end rate exceeds the Fed’s latest rate projections. Might the gap widen?...
...In the US Neel Kashkari, president of the Minneapolis Fed, and Raphael Bostic, who heads the Atlanta Fed, think the strength of the US economy means the Fed does not need to cut rates as much as policymakers...
...But he added it could cut borrowing costs “even more as the further postponement of the first Fed rate cut might offset some easing of financing conditions in the euro area”....
...The US president sought to ease the pressure on would-be homeowners through tax credits outlined in this month’s State of the Union address, but that benefit is unlikely to have as big an impact as lowering...
...China’s “credit impulse” — the change in the flow of credit — was a “headwind for growth for much of the last year” but has now moved back into positive territory, BofA’s analysts said....
...Financial investors are not yet warming to this logic, showing their weakest demand for European carbon credits since early 2019, according to Morgan Stanley....
...Instead, banks would have to rely on more traditional, standardised assumptions that measure how risky assets are by using credit ratings from agencies....
...Pierre Moscovici, the head of the Cour des Comptes, the national auditor, criticised the government for letting the situation degrade last year....
...Chelsea co-owner Todd Boehly’s Eldridge Industries is in advanced talks to buy European private credit firm Hayfin Capital Management....
...The divergence between European and US credit spreads has played out primarily at the weakest end of the credit quality spectrum....
...Denmark’s largest union 3F announced yesterday that it had joined Scandinavia in the latest escalation in tensions over workers’ rights against US electric-car maker Tesla....
...That de facto tightening prompted the Fed to add the bold text to its policy statement: Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring...
...But that lobbying, and the placatory intervention of Fed chair Jay Powell, appears likely to leave US banks with a watered-down impact that will be very similar to their European rivals — an uplift of perhaps...
...France’s auditing body, the Cour des Comptes, has described the state of the country’s public finances as “worrying”....
...Everything that is on a bank balance sheet is private credit. Let’s start with that. Every dollar, every euro that moves off of a regulated bank balance sheet de-risks the system....
...Sovereign bond markets rallied after comments by Banque de France governor François Villeroy de Galhau, with investors adding to their bets on a rate cut by the ECB in the first few months of next year....
...The thing that popped for me was that tech giants’ profits are so high they have become a new kind of Fed put....
...“President Biden is fed up with corporate practices that unfairly raise costs for consumers.”...
International Edition