So far Europe’s banks have made far less provision for losses than a model would predict based on severity of 2020 shock. @ecb is worried that there is more to come especially if gov support is pulled away. Growth outlook is increasingly grim.
ecb.europa.eu/pub/financial-… https://t.co/ME4padEouf
By contrast with life insurers, US public pension systems have shifted away from fixed-income securities as interest rates fell. Moodys
June 28, 2022
By contrast with life insurers, US public pension systems have shifted away from fixed-income securities as interest rates fell. Moodys via daily shot newsletter from