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M3 monetary aggregate rises 3% year-on-year in Eurozone in November

Link Securities | According to the ECB, the M3 monetary aggregate rose 3.0% year-on-year in November in the Eurozone, accelerating from 2.8% in October and exceeding the consensus forecast of FactSet analysts, who had expected a 2.7% increase for the month. In November, credit granted to households by euro area institutions rose by 2.9% year-on-year (the highest rate since March 2023) from 2.8% in October. Meanwhile, loans to non-financial corporations…

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ECB warns of increased risk of sharp price adjustments owing to high valuations in increasingly concentrated asset markets

Link Securities | The ECB’s Financial Stability Report warned yesterday that high valuations in increasingly concentrated asset markets increase the risk of sharp price adjustments. In the report, the institution noted that, since April, global stock markets have reached new all-time highs and credit spreads have remained tight in historical terms. In addition, the ECB warned that market confidence could change abruptly due to a deterioration in the growth outlook…