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Accentuating the negative
A pause on stress tests by European regulators feels oddly out of sync with a darkening picture
Market Questions is the FT’s guide to the week ahead
And consumption slows
Quantitative tightening has triggered a reserves flight from US commercial banks to money-market funds. Now what?
Aeroplane metaphors do little to disguise the fact that central bankers are struggling with the inflationary overshoot
ECB, Fed and BoE heads warn of painful shift after ‘massive geopolitical shock’ of Ukraine war and pandemic
There is a danger of the classic ‘stop-go’ trap that haunted many western central banks in the 1970s and 1980s
Up is down in markets. For now.
JPMorgan, Bank of America and Citigroup tier-one ratios to rise about 1 percentage point
Moves follow equity market bounce in previous week
And stock/bond correlations
And the US housing market gets worse
Companies’ hypothetical losses widen but remain within bounds in test of their ability to withstand severe pressure
Fed governors Michelle Bowman and Christopher Waller have indicated backing for more aggressive approach
Plus, more on bond yields and Italian debt
His ratings were already poor ahead of the midterms. Now the Fed is raising rates and the risk of a recession is increasing
Fed chair says economy is resilient but factors beyond his control raise risk of inflation surprises
Increased cash flows are of little use if issuers default
Navigating a course between Scylla, Charybdis and a permabear.
What does the recent interest rate increase mean for the economy and for investors?
Investors drawn to the greater liquidity offered by fixed income ETFs
US central bank chair’s testimony to Congress comes in wake of heightening fears of recession
Investors just want out of corporate bonds
Federal Reserve will publish results of annual stress tests on 34 financial institutions this week