Bank hedging strategies and the European Central Bank’s reversal of pandemic-era subsidised bank loans showed that quantitative tightening is not just about selling bond holdings.
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Bank hedging strategies and the European Central Bank’s reversal of pandemic-era subsidised bank loans showed that quantitative tightening is not just about selling bond holdings.
Continue reading..We don't know the full details of how Kweku Adoboli lost $2 billion at UBS, but as I watch an industry in decline, an analogy springs to mind. Yesterday I had a long conversation with one of the former managers in the chain of command above Jerome Kerviel at Societe Generale. After losing his job…
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