Negative Rates Affecting 25% Of Santander’s Business
Santander CEO, José Antonio Álvarez, said that 25% of the bank’s business is affected by negative interest rates, so it will have to focus on diversifying geographically to compensate for this.
Articles by The Corner
About the Author
The Corner
The Corner
Adding a Fourth P – for Progress – to the Stalled China’s PPP Model
Caixin | Moving into the third year since the central government reinvented the borrowed notion of public-private partnerships (PPP) to encourage private investment, local authorities have announced thousands of projects that are to be funded through such a scheme.
Brazil Going Down Argentina’s Path? Just Not Yet
Julius Baer | Argentina is back on the radar in the fixed-income space. This could be the blueprint for every economic restructuring in emerging markets for decades to come. We hope the speed and efficiency in transforming the economy will be held up by the Macri government. Any chances of Brazil becoming the next Argentina anytime soon? Not yet. But new elections and a shift in leadership could open similar dynamics in 2017.
What Next For Tsipras The Shapeshifter?
Nick Malkoutzis via Macropolis | In the shapeshifting world of Alexis Tsipras, it is difficult to know where things actually stand. His relatively brief time in power is littered with skins that have been shed and vows that have been broken.
Doha meeting: No Deal, As Politics Trump Economics
BARCLAYS | The Doha meeting, among 16 oil producers (OPEC and non-OPEC) concluded on Sunday, without an agreement on a production freeze. The much-awaited meeting exposed the political rift between Saudi Arabia and Iran, and ultimately doomed the agreement. Representatives from Saudi Arabia, Russia, Qatar and Venezuela agreed on a draft in advance to be put forward to the group, but the Saudis changed their stance on Sunday morning.
What the Panama Papers Have To Do With America
The massive release of the Panama Papers has rocked the financial and political world. The leaked documents from Panama’s Mossack Fonseca law firms contain more than 11 million files involving 214,000 companies set up over the last four decades.
US Equity and Derivatives Strategy: Will Better than Expected be Good Enough?
UBS | S&P 500 consensus expectations call for -8.1% earnings growth in 1Q2016, the largest decline since the Financial Crisis. While results should beat as usual, YoY forecast declines for 7 of 10 sectors make it unlikely that positive price reactions to “better than expected” will be an upside catalyst for the broader market.
Short And Long Term Political Risks in Europe
AXA IM | A number of political developments are likely to trigger volatility in 2016, especially around the month of June. However, the real risk lies in the longer term. For the first time since the 1950s, EU- scepticism is threatening the European project not just to stall, but to step back. Political risk in the euro area has taken a backseat in recent months.
Resilience? Not Yet
Francesco Saraceno | Last week the ECB published its Annual Report, that not surprisingly tells us that everything is fine. Quantitative easing is working just fine (this is why on March 10 the ECB took out the atomic bomb), confidence is resuming, and the recovery is under way. In other words, apparently, an official self congratulatory EU document with little interest but for the data it collects.
Euro Base Money Continuing To Grow To US$ Levels, Helpful…
James Alexander via Historinhas | I remain a bit disappointed that Euro Area QE and negative rates are not proving more of a hit with the markets and thus the economy. But are things really as bad as painted by our friend Lars Christensen?