Financial Service

Fed to begin rate hikes in US; inflation persistence risks higher yields Economic and Strategy Viewpoint - Q3 2026 Economic and Strategy Viewpoint - Q3 2026 Despite fading macro fears, the biggest risk to markets may come from rising long-term yields as concerns over central bank credibility intensify. Having brushed off the Iran shock, we continue to believe that the global economy will deliver solid growth over the coming years and that inflation is the bigger concern. Accordingly, rather than recession, the biggest threat to risk assets is that question marks over central bank credibility cause long term yields to surge higher. ...

Investors in emerging market debt in Latin America; +12.6% YTD in Latin America. Emerging market debt remains resilient as uncertainty tests markets Emerging market debt remains resilient as uncertainty tests markets Strong investor demand is helping performance overall, while divergence continues between commodity-exporting economies and those exposed to oil supply disruption. Despite the recent mild correction, emerging markets debt (EMD) continues to demonstrate resilience amid exceptionally uncertain global macroeconomic, monetary and geopolitical backdrops. This resilience is reflected in the sustained inflows into the asset class, as shown in the chart below. Improving demand from foreign investors has helped maintain the strong outperformance recorded over the past three years. This favourable performance trajectory has also remained firmly in place despite recent renewed upward pressure on developed market bond yields. ...

Schroders Economic and Strategy Viewpoint Q3 2026 global economies; risk of long-term yields surging on credibility doubts Economic and Strategy Viewpoint - Q3 2026 Economic and Strategy Viewpoint - Q3 2026 Despite fading macro fears, the biggest risk to markets may come from rising long-term yields as concerns over central bank credibility intensify. Having brushed off the Iran shock, we continue to believe that the global economy will deliver solid growth over the coming years and that inflation is the bigger concern. Accordingly, rather than recession, the biggest threat to risk assets is that question marks over central bank credibility cause long term yields to surge higher. ...

Schroders warns global markets of rising long-term yields; central-bank credibility concerns push yields higher Economic and Strategy Viewpoint - Q3 2026 Economic and Strategy Viewpoint - Q3 2026 Despite fading macro fears, the biggest risk to markets may come from rising long-term yields as concerns over central bank credibility intensify. Having brushed off the Iran shock, we continue to believe that the global economy will deliver solid growth over the coming years and that inflation is the bigger concern. Accordingly, rather than recession, the biggest threat to risk assets is that question marks over central bank credibility cause long term yields to surge higher. ...

Schroders warns long-term yields may rise in global markets due to central bank credibility concerns; Fed to begin rate hikes later this year Economic and Strategy Viewpoint - Q3 2026 Economic and Strategy Viewpoint - Q3 2026 Despite fading macro fears, the biggest risk to markets may come from rising long-term yields as concerns over central bank credibility intensify. Having brushed off the Iran shock, we continue to believe that the global economy will deliver solid growth over the coming years and that inflation is the bigger concern. Accordingly, rather than recession, the biggest threat to risk assets is that question marks over central bank credibility cause long term yields to surge higher. ...

Global economy to deliver solid growth worldwide; long-term yields surge on credibility concerns Economic and Strategy Viewpoint - Q3 2026 Economic and Strategy Viewpoint - Q3 2026 Despite fading macro fears, the biggest risk to markets may come from rising long-term yields as concerns over central bank credibility intensify. Having brushed off the Iran shock, we continue to believe that the global economy will deliver solid growth over the coming years and that inflation is the bigger concern. Accordingly, rather than recession, the biggest threat to risk assets is that question marks over central bank credibility cause long term yields to surge higher. ...

Investisseurs particuliers sur les actions américaines représentent 17% du volume des transactions; Impact: part du retail en hausse. The Intelligent Allocator – l’art exigeant de la sélection de titres | Lombard Odier L’art exigeant de la sélection de titres La sélection de titres est difficile, car les performances des marchés actions reposent sur un nombre restreint d’entreprises Les gérants de fonds doivent générer une performance supérieure à leurs frais. Même les plus performants d’entre eux peuvent rencontrer des difficultés lorsque leurs fonds croissent. L’afflux de capitaux vers les fonds indiciels passifs pénalise aussi les sélectionneurs de titres ...

Landesbank Baden-Wuerttemberg Mortgage Covered Bonds Germany; OC 27.8% NPV Prog Landesbank Baden-Wuerttemberg - Mortgage Covered Bonds Covered Bonds / Germany Contacts Monitoring Monitor.CB@moodys.com Click on the icon to download data into Excel & to see Glossary of terms used Client Service Desk London: +44 20 7772-5454, csdlondon@moodys.com Reporting as of: 31/03/2026 All amounts in EUR (unless otherwise specified) For information on how to read this report, see the latest Moody’s Covered Bonds Sector Update Data as provided to Moody’s Investors Service (note 1) I. Programme Overview Overview Total outstanding liabilities: Total assets in the Cover Pool: Issuer name / CR Assessment: Group or parent name / CR Assessment: Ratings Covered bonds rating: Aaa Entity used in Moody’s EL & TPI analysis: CB anchor: CR Assessment: Adjusted BCA / SUR: a3 / Aa2 Unsecured claim used for Moody’s EL analysis: Yes II. Value of the Cover Pool Collateral Score: 12.3% Collateral Score excl. systemic risk: n/a Collateral Risk (Collateral Score post-haircut): 8.2% 44% Market Risk: 10.4% 56% 18.7% 100% III. Over-Collateralisation Levels (notes 2 & 3) Over-Collateralisation (OC) figures presented below include Eligible only collateral. Over-Collateralisation levels are provided on any of the following: nominal basis or unstressed NPV basis or on stressed NPV basis. NPV stress assumptions applied as required by the legal framework for German Pfandbriefe. Current situation Committed OC (Stressed NPV): 2.0% Current OC (Unstressed NPV): 27.8% Scenario 1: CB anchor is lowered by 1 notch 0.0% OC consistent with current rating (note 4) 0.0% IV. Timely Payment Indicator & TPI Leeway Legal framework Timely Payment Indicator (TPI): High Does a specific covered bond law apply for this programme: Yes, Pfandbrief Act TPI Leeway: 6 Main country in which collateral is based / issuer is based: Germany / Germany Programme setup / structure: Bank issuer holding cover pool Extract from TPI table CB Anchor High Timely principal payments Aaa Aaa Maturity type: Soft Bullet Aa1 Aaa Aa2 Aaa n/a Aa3 Aaa A1 Aaa Yes A2 Aaa Maximum length of maturity extension: ...

Schroders Economic and Strategy Viewpoint Q3 2026 global; Long-term yields may surge on credibility fears. Economic and Strategy Viewpoint - Q3 2026 Economic and Strategy Viewpoint - Q3 2026 Despite fading macro fears, the biggest risk to markets may come from rising long-term yields as concerns over central bank credibility intensify. Having brushed off the Iran shock, we continue to believe that the global economy will deliver solid growth over the coming years and that inflation is the bigger concern. Accordingly, rather than recession, the biggest threat to risk assets is that question marks over central bank credibility cause long term yields to surge higher. ...

Finanstilsynet følger EBA-retningslinjer om diversifisering av massemarknadsporteføljen for utlån i Norge; Norske banker må etterleve retningslinjene snarest. Finanstilsynet fylgjer EBA-retningslinjer om diversifisering av massemarknadsporteføljen - Finanstilsynet.no Finanstilsynet fylgjer EBA-retningslinjer om diversifisering av massemarknadsporteføljen Nyheter Finanstilsynet har meldt Den europeiske banktilsynsmyndigheita (EBA) at vi vil fylgje EBAs retningslinjer om diversifisering av massemarknadsporteføljen i samsvar med artikkel 123 i forordning (EU) nr. 575 2013 (CRR3). Den europeiske banktilsynsmyndigheita (EBA) publiserte 5. februar 2026 nye retningslinjer om diversifiseringsmetodar for utlån i massemarknadsporteføljen. Retningslinjene definerer vilkåra for når ein kan nytte 75 prosent risikovekt for engasjement i massemarknadsporteføljen. Retningslinjene omhandlar alle bankar som nytter standardmetoden for kredittrisiko. For at eit engasjement skal kunne klassifiserast som eit massemarknadsengasjement, må det vere eitt av eit vesentleg tal i porteføljen, og porteføljen må utelukkande bestå av liknande engasjement. Risikovekt for utlån i massemarknadsporteføljen er 75 prosent for alle lån som utgjer mindre enn 0,2 prosent av totalen. I tillegg kan opptil 10 prosent av den totale porteføljen bestå av lån som enkeltvis er større enn 0,2 prosent av porteføljen. Dette vert gjort i éi berekning, utan iterative sirkelberekningar. Den relative storleiken på eksponeringa til kvart enkelt lån vert gjort på gruppert nivå. Finanstilsynet vil legge retningslinjene til grunn for sin tilsynspraksis, og forventar at norske føretak fylgjer retningslinjene. Meir informasjon er tilgjengeleg på nettstaden til EBA: