Why’s the ECB Buying the Debt of So Many Non-EU Companies? by Nick Corbishley • Aug 4, 2020 • 42 Comments “Companies from outside the euro zone are setting up vehicles to issue debt in euros and thereby qualify for the ECB’s purchase programs.”
Negative-Interest Rate Champion Bank of France Now Frets About Ballooning Corporate Debt by Nick Corbishley • Jun 29, 2020 • 36 Comments Central-Bank Forked-Tongue Syndrome.
Massive Credit Losses to Hit European Banks in Q2 and into 2021, Particularly When Debt Moratoriums Are Lifted by Nick Corbishley • Jun 23, 2020 • 20 Comments But the ECB went into high gear to soothe the pain of the banks.
Plot Thickens on End of QE & Start of Shedding Assets by Wolf Richter • Jun 22, 2020 • 82 Comments Fed leads in trimming its balance sheet; Now Bank of England governor publishes the reasoning for central banks to shed assets – before raising interest rates. A big shift!
The 53 Companies Bailed Out by the Bank of England: Johnson Controls, Carnival, PACCAR, Honda, Toyota, BASF, Bayer… by Nick Corbishley • Jun 8, 2020 • 36 Comments Foreign Companies welcome. US Tax dodgers that didn’t qualify in the US, no problem.
Automakers’ Finance Divisions Lobby BoE & UK Gov for Bailout. Auto Sales Collapse 97%, Consumers Apply for Payment Holiday by Nick Corbishley • May 31, 2020 • 44 Comments But auto sales had already dropped three years in a row — before Covid.
What Horrified Fund Managers, Banks & UK’s Pension Minister Said About the Bank of England’s Sudden “We Don’t Rule Out” Negative Interest Rates by Nick Corbishley • May 22, 2020 • 71 Comments “The stimulus the country urgently needs is not experimental and dangerous monetary policy.”
Demand for Bank Notes in Dollars & Euros Spikes Despite Fears of Covid-19 Contaminated Cash by Nick Corbishley • Apr 19, 2020 • 102 Comments A curious phenomenon.
New Currency Crisis Dawns: Mexican Peso Plunges to Record Low Against the Dollar by Nick Corbishley • Mar 23, 2020 • 63 Comments The flight into US dollars! Dollar-denominated debts of Mexican companies weigh heavily.
European Banks Face Financial Crisis 2, Shares Hit 1988 Lows by Nick Corbishley • Mar 18, 2020 • 52 Comments The ECB promises to “monitor markets closely.” Then it came out with a new bond buying binge.
