Articles by The Corner

Leverage loans. The next trigger?

Yield not equal to return

Chris Iggo (AXA IM) | Bonds have sold off a bit last week, but I believe that the bull market remains in place. Global monetary policy is about to be eased yet there are reasons to be relatively relaxed about the near-term growth outlook. The mini-bond sell-off will make yields a bit more attractive. However, yield does not equate to return unless you hold bonds to maturity and there remains scope for returns to be substantially higher than current yields, especially at the long-end of the maturity spectrum.



Spain tourism

International tourism in Spain: from quantity to quality?

CaixaBank Research | The strong growth in international tourism which Spain has experienced is having a positive impact on economic growth and employment. However, it is also generating impacts on the resident population which are not always positive, as shown by the increasing congestion in certain parts of Spain caused by the high numbers of tourists. This has revived the debate over the need to move to a higher quality of tourism.
What do we understand by quality tourism?

 






Investment funds

All against all in the battle for funds

Manuel Moreno Capa | Generalist banks wanting to convert their small savers into investors who opt for fund portfolios; large banks who launch innovative online platforms to attract wealthy clients; small bodies who look for savers in funds which begin with contributions as affordable as 10 euros; independent managers who, with new types of funds, compete with bank financing of SMEs … It is a struggle of all against all, which investment funds have become the definitive weapon.



Bankinter prior 2Q19: market situation will be noticeable in net commissions

Renta 4 | Bankinter is publishing its 2Q19 results on July 25, 2019 before the opening of the market. Maintain. Target price 8.1 eur / share. Our estimates point to a net interest margin of 284 million euros, + 5% yoy, and + 3% vs 1Q19 in a quarter where we could see some improvement in the MI / ATM (1.48 % R4e vs. 1.46% in 1Q19).