José Luis M. Campuzano (Spanish Banking Association) | Without doubt, banks can benefit in the medium and long-term from those companies which the term “fintech” encompasses. And competition in the short-term, particularly in the segments of payments and loans, is a small price to pay considering the synergies and the revitalising effect for the banks of being digitally closer to the client.
Issuing decrees is the new tweeting. So far Trump’s pattern has been clear: focus on easy targets first using a very simple rule of thumb: use the trade balance to tell apart US friends from US foes. Hence despite the outcry, the economy and markets are gaining traction.
Assuming that Trump’s getting US presidency has turned global establishment upside down, markets are under currents of diverging US, but not leaving aside domestic factors. In the case of Asian, on one hand, the likelihood of stronger US data leading to higher USD rates is pulling Asia rates higher, as reported by BoAML. On the other hand, flush local liquidity conditions, lackluster pick up in domestic demand and easing stance of Asian central banks are pushing Asian rates lower.
Reagan is a precedent for Trump as Krugman says. We can envisage what Trump’s early years will be like thanks to Reagan. And we could see a similar situation to what was known in the Reagan years as the twin deficits due to the size of the fiscal and external deficits.
These words of José de la Cruz Porfirio Díaz Mexican general and politician who served seven terms as President of Mexico between 1930 and 1915, fit pretty well now that Mexico is being threatened by more US trade protectionism.
2016 was the year when the Chinese FinTech dragons roared and some previously feted Western FinTech leaders wilted. Furthermore, European banks are among the top investors in VC-backed FinTech companies led by Spanish banks Banco Santander and BBVA
Emerging Markets capital inflows are slowing down only modestly, offering some protection in case of large outflows. Capital inflows to EMs are expected to slow down in 2017, although Manolis Davradakis at AXA IM does not believe they would fall off a cliff as in 2013-2015.
José Luis M. Campuzano (Spanish Banking Association) | “The only thing which is predictable is total unpredictability.” I don’t know who invented this phrase but I believe it is a very good summary of everything we have heard in Davos: wait and see what happens, whatever it is. That doesn’t mean the sentiment of the Agenda has been negative.
Donald Trump started his mandate with a speech which gave a glimpse of worrying issues. Amongst the points to be highlighted are his promises of increased protectionism against imports, a harder stance against immigration and a huge dose of populism. For Donald’s kind of populism.
On November 8, 2016, Modi declared that Rs500 ($7.30) and Rs1,000 notes were no longer legal tender. He hailed demonetization as an iconic move to nip forfeit currency and corruption in the bud. Has Narendra Modi succeeded in removing black money from the economy or has he brought India to its knees?