Blame the British. In the wake of the UK’s Brexit vote, investors fearful of spreading contagion have woken abruptly to the slow-burn banking crisis in Italy. It should have been news to no one that Italy’s banks are sitting on non-performing loans with a face value of EUR360bn, 18% of their total loan books, and
As is very obvious from today’s movements in financial markets, the result of yesterday’s in/out EU referendum in the UK has come as something of a shock to most investors, ourselves included! In addition to the Pound’s sizeable decline on the foreign exchanges – reported as being its largest daily move ever – sharp sell-offs across the UK equity
The European Central Bank pushed further into uncharted territory this week when it made its first foray into the corporate bond market. Three months after announcing its new initiative, the ECB added the Corporate Sector Purchase Program, or CSPP, to its alphabet soup of monetary operations. Under the CSPP, the central bank will make purchases
Sterling suffers renewed pressure as polls underline lead taken by ‘leave’ campaign ahead of vote on UK’s European Union membership – The pound has fallen against every major global currency after polls underlined the lead taken by the ‘leave’ campaign ahead of the referendum on the UK’s European Union membership. Sterling lost ground even against the
