Articles by The Corner

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
hilaria donaldo

Evolution In US Polls: Too Close To Call?

AXA IM | At the time of writing, Hillary Clinton enjoys a near 2 point lead over Donald Trump in the national polls. This lead had narrowed to almost a 1 point gap recently – the smallest since the brief lead Trump held over Clinton at the time of the Republican convention. The polls appear equally tight if we look at the likely battleground states. Exhibit 2 illustrates a mixed picture in terms of Clinton or Trump leads in key US states.


Gustavo Colombia

“There Is No Capital Flight In Colombia, Quite The Contrary”

Guillermo Pérez Flórez | Colombia’s government and the FARC signed a peace deal after 52 years of war. On the economic front, Carlos Gustavo Cano, co-director of Colombia’s central bank, is firmly in favour of raising interest rates to try to contain inflation, as well as allowing the opening of dollar accounts.


bancoscentrales

A Global Financial World (Or The Herd Instinct In The Markets)

J.L.M. Campuzano (Spanish Banking Association) | You will agree that the messages we are getting from the main central banks fuel more distrust than certainty. The scenario is complex. And part of this complexity comes precisely from the current uncertainty which translates into a greater correlation between the financial markets and assets at a global level.


US protection 2

US Trade Protectionism Is Bad For Emerging Markets

AXA IM | Given the importance of trade in connecting the world economies, rising protectionist rhetoric in the US presidential election is particularly alarming. Both candidates, Hillary Clinton and Donald Trump, have made anti-trade and Free Trade Agreements (FTAs) remarks during their respective campaigns:



bank of greece2

A Market For NPL Resolution

Jens Bastian via Macropolis |  When the largest Greek banks (in terms of assets) published their second quarter results a fortnight ago, much investor attention was focused on the formation and breakdown of non-performing exposure (NPE) on their respective balance sheets. This focus is the result of regulatory authorities and investors wanting to know if the four systemic banks have started to reverse the multi-year trend of continuously rising “red loans” in their portfolios.

 


Caixabank

Caixa Bank BPI – Clarity Gained, Capital Action Taken

UBS | Once CaixaBank gained further clarity around BPI’s deal’s viability, it announced a placement of its own treasury shares near Thursday’s market close. This sale amounts to the 585m shares (9.9% of capital) which CaixaBank received as a result of the asset swap (involving BEA/Inbursa stakes) with Criteria in December last year.


ECB at night

Can The ECB Emulate The BoJ’s Latest Policy Move?

BoAML | Almost as soon as the Bank of Japan had announced its yield-target strategy, there has been investor interest in whether the ECB could follow the same policy approach soon. In our view, such read-across is not evident, however.


exports spanish2

Spain Exports Growth Fastest In Q1’16

Spanish exports managed to dodge the slowdown in world trade in the first half of the year. According to the latest data from the World Trade Organisation, exports from the 70 biggest economies (which account for 90% of global GDP) fell 5.6% to 6.4 trillion euros in the first half of 2016 from a year earlier, the lowest level since 2011. In this context, the growth rate of Spanish exports (2.4% year-on-year in the first half) has been the largest of the economies.