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July 29, 2020

FOMC Meeting July 28-29: Dovish tone signals more accommodation for an extended period

As expected, the Fed left interest rates unchanged and reaffirmed its commitment to, at a minimum, maintaining the current pace of asset purchases while also defending its expanded use of its lending powers until the economy is on the road to recovery.
  • Geography Tags
  • USA

July 24, 2020

Spain | Bank profitability in the face of a very demanding environment

Before the outbreak of the COVID-19 crisis and the impact of the lockdown measures (which is still not possible to quantify in full), Spanish banks were already facing an environment in which it was widely accepted that the profitability of the system would be, at best, limited.

May 26, 2020

U.S. | Corporate financial distress in the wake of the Covid-19 pandemic

Corporate financial distress is a condition experienced by companies under pressure to service their debt due to one or more factors such as overindebtedness, an increase in borrowing costs, challenges rolling over maturing debt due to tighter financial conditions or a decline in revenues.
  • Geography Tags
  • USA

May 12, 2020

Banxico should speed up its easing pace, but will they?

Banxico still has a very inappropriate restrictive monetary policy stance. Banxico should cut the policy rate by at least 75bp; the odds of a milder 50bp cut are not low, but we expect Banxico to take a bolder step and cut rates 75bp to 5.25%.

April 29, 2020

Fed opens up toolkit to support flow of credit

April’s FOMC statement, released today, confirms that the Federal Reserve (Fed) will continue with its aggressive strategy to deal with the economic fallout and downside risks.
  • Geography Tags
  • USA

April 15, 2020

Economic Policies and COVID-19

The economy is suffering from an unprecedented health crisis caused by COVID-19. Although some countries were able to, most could not control the initial outbreak of the infection and were forced to confine people to their homes and partially or completely lockdown non-essential economic activities.

March 9, 2020

Coronavirus: testing the limits of the expansion and policy

In July 2019, the US officially achieved the largest economic expansion since records began. This growth continued in spite of the obstacles encountered as a result of the trade war with China and the global industrial recession.
  • Geography Tags
  • USA

March 3, 2020

FOMC Statement: March 3rd

In an unscheduled and abbreviated statement, the Fed announced an emergency 50bp cut to 1-1.25% in the Fed Funds rate, similar to the response to 9/11.
  • Geography Tags
  • USA