Economics

Short-term market swings

New governor

With rising interest rates, flat returns from equity markets, and an unfriendly economic backdrop, cash is back on the agenda.

Last set of results pre-UBS ownership

‘Deprived of property rights’

Follows collapse of SVB

Most pessimistic month of 2023

Consensus expectations of 9.8%

Now at 3.8%

Banks still hold opportunities