by John E. Charalambakis | Jan 10, 2018 | Commentaries, Uncategorized
As a starting point, let’s briefly review a few of the forces that are shaping up equities in a positive trajectory during at least the first few months of 2018. Growth has been picking up pace globally – the much celebrated synchronized recovery – and...
by John E. Charalambakis | Dec 28, 2017 | Commentaries, Uncategorized
I boarded my end-of-year flight from Cincinnati to Paris, excited of whom I would meet this year, and as I was boarding I heard a deep voice stating: “You have posed the wrong question, provided the wrong argument, and therefore reached an irrelevant conclusion....
by John E. Charalambakis | Dec 11, 2017 | Commentaries, Uncategorized
In the last few days, we had three pretty interesting developments related to the banking sector around the globe: EU developments, Basel 3, and an IMF report regarding China’s banks. In the EU, important steps were taken preparing for a Banking Union that will close...
by John E. Charalambakis | Nov 30, 2017 | Commentaries, Uncategorized
The recent data on M3 (a broader definition of money supply that includes money market funds and large time deposits) show that its growth has been 6.5% (year-on-year) and actually stands at a three-year high (see graph below). How could that be explained and how...
by John E. Charalambakis | Nov 22, 2017 | Commentaries, Uncategorized
Given the fundamental trends, we expect global growth to remain healthy in 2018, and therefore we also expect that the credit risk appetite will also remain healthy in 2018. Having said that, we should also state that we expect some tightening in the spreads between...
by John E. Charalambakis | Nov 15, 2017 | Commentaries, Uncategorized
The proxy war between the Kingdom of Saudi Arabia (KSA) and Iran is intensifying and our fear is that it may ignite a regional conflict with far-reaching global consequences, especially if Russia and the US take opposite sites. The two Middle Eastern countries have...