Still waiting for the “Pent-up Demand.”More
Negative-Interest Rate Champion Bank of France Now Frets About Ballooning Corporate Debt
Central-Bank Forked-Tongue Syndrome.More
Mall Giant Intu Collapses Into Bankruptcy
A zombie well before the pandemic, the UK company had racked up huge debts to finance rapid growth in a sector that had started shrinking some time ago.More
Barcelona’s Epic Tourism Boom Is Over, Now the Crisis Begins: My Walk to the Beach
Owner of a small cafe that specializes in fine cakes and sandwiches tells me: “We’ll be lucky if we get half the normal number in July and August.” It’s now “all about damage control.”More
Massive Credit Losses to Hit European Banks in Q2 and into 2021, Particularly When Debt Moratoriums Are Lifted
But the ECB went into high gear to soothe the pain of the banks.More
Latin-America’s Airlines Are Crashing, But There May Be No Bailouts. Aeromexico Denies Filing for US Bankruptcy
The AMLO government, which has refused to bail out shareholders and bondholders of large companies, could be on to something: A form of capitalism where investors, not taxpayers, carry the risks.More
Italy Once Again on the Eurozone Worry List
A new tsunami of bad debts washes ashore while banks are still struggling with the debris from the prior tsunami of bad debts.More
Commercial Real Estate Sellers Expecting Pre-Virus Prices “Are Smoking Dope,” Says UK Fund Manager
Capital values across all segments (retail, office, industrial) already fell by 6.1% over the three months from March to May.More
Europe’s Fashion Industry Faces Nightmare
“People do not buy a new outfit to stay at home.” Sales at stores that have reopened languish while ecommerce is booming. McKinsey: up to a third of global fashion retailers will not survive the crisis.More
Tsunami of “Unsustainable” Business Loans to Hit Banks, City of London Grandees Warn
“Consideration may need to be given” to bailouts from taxpayers “to meet solvency or liquidity requirements,” but only “at the extreme end,” whatever that means.More
Nick Corbishley 