Central banks




Credit Crunch in the U.S

Published by Laurent Maurel | Oct 19, 2023 | 10998

The rise in interest rates initiated by the Fed has had a devastating effect on bonds, which were massively purchased by banks, insurers and pension funds when rates were low. The question is whether this fragility in the banking and insurance sector is likely to trigger a credit crunch.

Read article


Geopolitics and Economics: Back to the 1970s

Published by Philippe Herlin | Oct 12, 2023 | 12294

Fifty years to the day after the Yom Kippur War, the Hamas terrorist attack on Israel stunned the world with its brutality and suddenness. It was anticipated that this war would last longer than the previous one (less than twenty days, from October 6 to 25, 1973), with the threat of global repercuss...

Read article

Bond Markets Remain Under Stress

Published by Laurent Maurel | Oct 5, 2023 | 14209

The current bond crash is historic. The EDV ETF, which measures the price of very long-dated US Treasuries, has fallen by 58% in just over a year. The bond market's current fall is now greater than that recorded by the equity market during the last financial crisis in 2008 (-56%).

Read article

Central Banks and Inflation: Where Are We Headed?

Published by Julien Chevalier | Oct 3, 2023 | 10843

As central banks continue their headlong rush to the top, they are faced with a Cornelian dilemma: bring inflation down to 2% at the risk of triggering an unprecedented economic and financial crisis, or allow prices to rise, which would call into question their mandate and lead to social upheaval.

Read article

Gold Rush in China

Published by Laurent Maurel | Sep 29, 2023 | 21036

The price of gold falls in London while it rises in China. The divergence reported in my last article continues this week. The Chinese gold and precious metals market seems to be following its own trajectory.

Read article

Is Inflation Boosted by Oil?

Published by Philippe Herlin | Sep 28, 2023 | 11354

The ECB has just raised its deposit rate to 4% and halted its sovereign debt repurchases, with the stated aim of stamping out inflation. Unfortunately, this will probably have little effect, as oil prices are slowly but surely climbing.

Read article
We put safety at the core of our business