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Opinion - Increase in inequalities and accommodative monetary policies : what causes what ?

Bastien Drut — 2021-09-05T22:43:15Z

While the idea that accommodative monetary policies imply an increase in inequalities, a research paper presented at the Jackson Hole central bankers conference reverses the causality and tends to suggest that it is the rise in inequalities that causes the decline in equilibrium interest rates.

Opinion - German fiscal stimulus, can we believe it?

Bastien Drut , Juliette Cohen — 2019-09-22T23:21:00Z

It appears that a German fiscal stimulus is not imminent and that these effects would take time to materialize. Maintaining a budget surplus target while the Eurosystem will start buying German bonds again from November will maintain downward pressure on German long-term interest rates.

Opinion - Climate disasters are more and more frequent in the United States

Bastien Drut , Juliette Cohen — 2019-07-24T14:29:00Z

According to the European Space Agency, never a month of June had been as hot on the surface of the Earth as in 2019. It is now clear that climate disasters have intensified in recent years. This has been clear in the United States in recent months.

Opinion - FED: US Economy looks like 2007

Bastien Drut — 2019-06-19T23:13:00Z

According to Bastien Drut, Senior Strategist at CPR AM, the context of the US economy in 2019 is not unlike that of 2007, that is to say, a period of economic slowdown that preceded the recession of 2008/2009.

Opinion - Which central banks will have the most room for maneuver?

Bastien Drut — 2019-05-13T22:24:02Z

In the decade following the Great Recession, central banks in developed countries have resorted overwhelmingly to unconventional measures to satisfy their mandates, be they dual (price stability and full employment) or solely focused on price stability...

Opinion - Will the ECB be able to raise its key rates?

Bastien Drut — 2019-02-28T00:06:00Z

Markets no longer believe in the ability of the ECB to raise its key rates in 2019 and the theme of the Japanization of Europe is coming back. A comparison with the Fed's experience in recent years allows us to see more clearly.

Opinion - Why the Fed will stop reducing its balance sheet in 2019

Bastien Drut — 2019-02-07T00:45:34Z

At last night's FOMC, Jerome Powell explained that "the normalization of the size of the balance sheet would be completed sooner" and that the Fed would now "evaluate the appropriate timing for the end of balance sheet reduction”. We briefly explain why below.

Opinion - The difficult recomposition of the Executive Board of the ECB

Bastien Drut — 2019-01-21T22:45:52Z

On October 31, 2019, Mario Draghi's term as President of the ECB will come to an end. Even though Mario Draghi's personality has had a profound impact on the way the ECB communicates and therefore acts, it is important to point out that it is a small team within the ECB Executive Board that has led the major changes in the monetary policy since 2011/2012...

Who's who - Sébastien Denry

2016-11-17T00:40:58Z

Sebastien Denry, Investment specialist Quant Equity, THEAM Sébastien Denry is an Investment Specialist at THEAM, the partner of BNP Paribas Investment Partners specialized in Protected, Indexed and Model-Driven management. Sebastien is in charge of the development of the Quantitative Equity (...)

News - Euronext in exclusive talks to acquire 20% of EuroCCP and to offer user choice clearing model for equity markets

2016-05-12T15:57:16Z

• MOU signed to finalise the acquisition of a 20% stake in EuroCCP for €14M (including contribution to regulatory capital) subject to closing adjustments • Euronext to create user choice for clearing of Euronext equity markets, through a preferred CCP model followed by interoperability • This (...)

News - ING completes sale of Taiwanese asset management business

2014-04-18T07:12:33Z

ING has completed the sale of ING Investment Management Taiwan, its Taiwanese asset management business, to Japan-based Nomura Asset Management in partnership with a group of investors. The transaction, which was announced on 10 January 2014, is in line with ING's earlier announced strategy to (...)

News - Swiss Re denies being in discussions with the Agnelli family or any of its investment vehicles

2014-03-12T23:21:45Z

Contrary to market speculation, Swiss Re is not in discussion with the Agnelli family or any of its investment vehicles regarding the possible acquisition of a stake in Swiss Re.

News - ING finalises agreement to make Dutch Defined Benefits Pension Fund financially independent

2014-02-28T09:34:38Z

ING announced today that it has finalised the previously announced agreement in principle to make ING's closed Defined Benefits (DB) Pension Plan in the Netherlands financially independent. The finalisation of the agreement releases ING from all future financial obligations arising out of this (...)

News - ING posts 2013 underlying net profit of EUR 3,255 million

2014-02-12T20:29:19Z

ING Group full-year 2013 underlying net profit of EUR 3,255 million, up 22.2% from full-year 2012 2013 net result EUR 3,232 million, or EUR 0.85 per share, including divestments, special items and discontinued operations 4Q13 net result of EUR 539 million, or EUR 0.14 per share, vs. EUR 0.39 (...)

News - Fitch Publishes Tikehau Credit Plus 'Strong' Fund Quality Rating

2014-02-02T19:23:52Z

Fitch Ratings has published Tikehau Credit Plus ‘Strong' Fund Quality Rating. The fund is France-domiciled and managed by Tikehau Investment Management (Tikehau IM).

News - Fitch Affirms CPR Croissance Reactive 'Strong' Fund Quality Rating

2014-02-02T19:22:30Z

Fitch Ratings has affirmed CPR Croissance Reactive's ‘Strong' Fund Quality Rating. The fund is a flexible multi-asset global fund, managed by CPR Asset Management (CPR AM), a wholly owned subsidiary of Amundi Asset Management.

News - ING completes sale of stake in China Merchants Fund

2013-12-04T01:06:17Z

ING announced today that it has completed the sale of its 33.3% stake in China Merchants Fund, an investment management joint venture, to its joint venture partners China Merchants Bank Co., Ltd., and China Merchants Securities Co., Ltd. The transaction, which was previously announced on 8 (...)

News - ING completes sale of investment management business in South Korea to Macquarie

2013-12-02T18:04:31Z

ING announced today that it has completed the sale of its investment management business in South Korea to Macquarie Group, an Australia-based, global provider of financial services. As previously announced on 10 July 2013, the transaction does not have a material impact on ING Group (...)

News - ING prices offering of ING U.S. shares at USD 29.50 per share

2013-10-23T22:49:23Z

ING announced today the pricing of 33 million shares of common stock of ING U.S., Inc., its U.S.-based retirement, investment and insurance subsidiary. Based on the final price of USD 29.50 per share, the offering size is approximately USD 974 million (approximately EUR 706 million at current (...)

News - Fitch Affirms Austria at 'AAA'; Outlook Stable

2013-09-29T18:32:25Z

Fitch Ratings has affirmed Austria's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'AAA' with Stable Outlook. The agency has also affirmed the Short-term foreign currency IDR at 'F1+' and the Country Ceiling at (...)

News - Fitch Affirms European Stability Mechanism at 'AAA'; Outlook Stable

2013-09-10T19:06:15Z

Fitch Ratings has affirmed the European Stability Mechanism's (ESM) Long-term Issuer Default Rating (IDR) at 'AAA' with a Stable Outlook and Short-term IDR at 'F1+'.

News - Fitch Affirms Denmark at 'AAA'; Outlook Stable

2013-09-05T06:07:31Z

Fitch Ratings has affirmed Denmark's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'AAA' with a Stable Outlook. Fitch has simultaneously affirmed the Short-term foreign currency IDR at 'F1+' and the Country Ceiling for Denmark at (...)

News - Fitch Affirms Sweden at 'AAA'; Outlook Stable

2013-07-17T21:37:42Z

Fitch Ratings has affirmed Sweden's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'AAA'. The Outlook on both ratings is Stable. Fitch has also affirmed Sweden's Short-term rating at 'F1+' and Country Ceiling at (...)

News - Fitch Downgrades Major French Banks

2013-07-17T21:35:01Z

Fitch Ratings has downgraded the Long-term Issuer Default Ratings (IDRs) of Credit Agricole (CA), Societe Generale (SG), Groupe BPCE (GBPCE), Dexia and Dexia Credit Local (DCL) to 'A' from 'A+' and Short-term IDRs to 'F1' from 'F1+'. Fitch has also downgraded BNP Paribas' (BNPP) and CM11-CIC's (...)

News - Fitch Downgrades European Financial Stability Facility to 'AA+'

2013-07-16T06:07:31Z

Fitch Ratings has downgraded the European Financial Stability Facility's (EFSF) guaranteed and long-term debt Long-term rating to 'AA+' from 'AAA'. The EFSF's short-term (less than 12 months contractual maturity) guaranteed debt instruments' Short-term rating has been affirmed at (...)

News - Fitch Downgrades France to 'AA+'; Outlook Stable

2013-07-12T17:50:31Z

Fitch Ratings has downgraded France's Long-term foreign and local currency Issuer Default Ratings (IDR) to 'AA+' from 'AAA'. The Outlook is Stable. At the same time, the agency has affirmed France's Short-term foreign currency IDR at 'F1+' and the Country Ceiling at (...)

News - ING to sell Investment Management business in South Korea to Macquarie

2013-07-10T20:56:23Z

ING announced today that it has reached an agreement to sell its investment management business in South Korea to Macquarie Group, an Australia-based, global provider of financial services. The transaction is not expected to have a material impact on ING Group results. Subject to regulatory (...)

News - Fitch Affirms Japan at 'A+'; Negative Outlook

2013-05-16T20:15:08Z

Fitch Ratings has affirmed Japan's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'A+' with a Negative Outlook. The Short-term IDR has been affirmed at 'F1+'. The Country Ceiling has been affirmed at 'AA+'. The affirmation of Japan's sovereign ratings in part reflects the (...)