Ahead of a presidential election, France first needs to help itself on debt
When could market stress justify European Central Bank intervention over French debt and what must France do first for such support to be defensible? After
Bonding through crises with nonbank financial institutions
Nonbank financial institutions are often seen as procyclical lenders, cutting credit more sharply than banks during stress, while bond markets can substitute for bank lending
Carbon risk in loan pricing: Commitment channels and real effects
Transition risks related to climate change are increasingly recognised in equity and bond markets. This column uses syndicated loan tranches issued to US firms to
Financial fragmentation as a vulnerability in euro area bond markets
As European governments scale up investment, bond market stability is more critical than ever. This column shows that financial fragmentation can undermine that stability by
