The resilience of the US bond market
Admittedly, US debt lost almost 13% in 2022 as the Fed raised its target interest rate on overnight lending between banks seven times, from 0.25%...
Author: J-P. Pizzini
2023: the perfect storm for the bond market?
Investors found few places to hide in 2022. Both major asset classes: stocks and bonds, fell significantly globally. But if analysts are correct, 2023 will...
A year in hell for the European bond
In 2022, bonds posted their worst performance in modern financial history. German and UK 10-year yields saw their most significant annual increases as sovereign bond...
A hawkish and arrogant ECB is frightening the European economy
Every increase in borrowing costs, including Thursday’s half-point move, advances Frankfurt officials’ fight against runaway inflation but also risks having a heavier economic impact. The...
Emerging markets caught in the crossfire
Emerging market central banks face a catch-22 where falling economic growth means they can’t maintain tight monetary conditions, but high inflation doesn’t allow them to...
A new headache for policymakers: the property markets
Rising interest rates combined with high household indebtedness worldwide could cause a general collapse in real estate markets. The case of Sweden is particularly interesting...
Europe needs 500 billion euros for 2023
The support measures for the energy crisis will be expensive for Europe. The problem with this is that unlike the past eight years, when the...
COP 27 or the European hypocrisy
At COP 27, the French President, Emmanuel Macron, made the apostle of the energy transition, proclaiming that the Ukrainian conflict will not postpone the measures...
La nouvelle géopolitique de l’Ukraine
Le bombardement de missiles du président Vladimir Poutine contre des dizaines de cibles civiles en Ukraine, y compris des infrastructures énergétiques critiques, marque une victoire...