Corporate Debt Starts To Bite
The mounting threat of corporate debt defaults has long been downplayed by resilient credit markets, but the situation is taking a concerning turn as more companies face downgrades to junk credit ratings, leading to higher borrowing costs.
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Peak Europe?
The European Central Bank (ECB) has hiked interest rates by a quarter of a percentage point to a historic high but indicated that borrowing costs in the eurozone may have reached their zenith, causing the euro to plummet.
Sovereign Pivot
The conventional framing of global economic power tends to focus on trade balances and manufacturing output. This perspective misses a more consequential asymmetry.
Structural Divergence in Global Creditor Nations
A significant shift occurred in global capital markets: Germany surpassed Japan as the world’s largest net creditor nation.
2008... But Bigger
The grand European project, born from the ashes of war, was built on a promise of shared prosperity and cradle-to-grave security.