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We fail to see the upside for the ECB in focusing on profit margins as a key factor behind inflation persistence Deposit migration is a normal feature – but n...

Markets are less volatile than two weeks ago. There have not been any more bank failures. Bond yields are low, and stocks are up on the month and the year. Yet...

US banks are now in full “precautionary mode”, but the Fed may be reconciled with a credit crunch, as long as it’s not too disruptive The ECB cannot rely...

This is not 2008. However, markets have had their confidence in banks rocked, and investors have had to digest significant losses in both equity and credit mark...

Key points: E-commerce boomed during the pandemic and has continued to grow at rates two to three times faster than before the onset of COVID-19 Though recent m...

Key points: The banking crisis has highlighted some of the fragilities in the system and is likely to lead to a tightening of credit conditions Monetary policy...

We think the drastic downward revision in central banks’ terminal rate is overdone The current banking turmoil could trigger a steep deterioration in activity...

Things have got real. Higher rates have triggered a banking crisis, provoking actions from policymakers, investors and bank deposit customers. It’s not a run...

Key points Rising interest rates and increasing number of deposit withdrawals sees SVB fail The broader impact of SVB’s situation has several dependencies inc...

Key points The transition to net zero requires massive investment, bringing new potential opportunities for investors in green, social and sustainability bonds...