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President Trump has nominated Michelle Bowman as the Federal Reserve's vice-chair for supervision, aiming for a more industry-friendly regulatory approach. Meanwhile, UBS has delayed its net zero target from 2025 to 2035 due to an expanded corporate real estate portfolio after acquiring Credit Suisse. Close Brothers reported a £104 million loss linked to a car finance scandal, while Santander plans to expand its US presence through a partnership with Verizon, offering bill credits for new high-yield savings accounts.
German 10-year borrowing costs could rise to 4%, the highest since 2008, as the country plans a significant increase in spending on defense and infrastructure. A proposed 500-billion-euro fund and changes to borrowing rules are expected to lead to nearly 150 billion euros in extra debt by 2028. Analysts predict yields will initially range from 2.5% to 3% before climbing, with Goldman Sachs forecasting a rise to 3.75%.
UBS has raised its EUR/USD fair value estimate to 1.08, up from 1.06, due to declining U.S. yields amid weaker economic data. Currently trading above 1.09, the pair is at a premium, though UBS notes this is not historically significant. They anticipate potential capital outflows from the U.S. to Europe, but expect a short-term pullback in the EUR/USD. Meanwhile, the Australian dollar's weakness is attributed to concerns over China's economic outlook, despite positive foreign investment data. UBS predicts an improved backdrop for the AUD later in the year, supported by expected rate cuts from the Federal Reserve.
UBS has raised its short-term fair value estimate for EUR/USD to 1.08, up from 1.06, due to lower US yields. Currently trading above 1.09, the pair is at a premium, though not historically significant. UBS anticipates potential capital flows to Europe but warns of a possible short-term pullback. The Australian dollar's weakness is attributed to concerns over China's economy rather than Superannuation exits, with expectations for improvement in the second half of the year amid favorable conditions.
UBS has raised its near-term fair value estimate for EUR/USD to 1.08, up from 1.06, due to declining US yields and weaker economic data. Currently trading above 1.09, the pair is at a premium compared to its fair value, though this premium is not historically significant. UBS anticipates potential capital outflows from the US to Europe, but expects any asset shifts to take time, with a possible corrective move for EUR/USD in the short term. Meanwhile, the Australian dollar's weakness is attributed to concerns over China's economic outlook, despite positive foreign investment data.
Natalia Ferrara, vice president of the Swiss Association of Bank Employees (ASIB), emphasizes the need for a large global bank in Switzerland, criticizing regulatory failures following Credit Suisse's collapse. ASIB calls for greater accountability for top managers, stronger supervision from FINMA, and concrete measures to ensure the stability of the banking sector and protect workers. The organization argues that the focus should be on upholding Swiss values rather than merely residency requirements for UBS board members.
Goldman Sachs has revised its Brent crude oil price forecast for December 2025 down by $5 to $71 per barrel, citing slower demand growth and increased OPEC+ supply. The bank now expects oil demand growth of 0.9 million barrels per day in 2025, influenced by slower U.S. GDP growth and higher tariffs. Meanwhile, oil prices rose over 1% amid geopolitical tensions and economic stimulus plans in China, with Brent futures reaching $71.91 and WTI at $68.42.
The Bank of Japan is expected to gradually increase interest rates, supported by a projected rise in wages to 3.0% this year, up from 2.8% in 2024. Goldman Sachs anticipates that if wage growth aligns with these estimates, the BOJ will likely raise rates to 0.75% by July, maintaining a steady approach thereafter.
The Bank of Japan is expected to gradually increase interest rates, supported by a projected rise in wages to 3.0% this year, which aligns with maintaining inflation around the 2% target. Goldman Sachs anticipates a rate hike to 0.75% in July, with further increases occurring approximately twice a year. Wage growth exceeding expectations could accelerate rate hikes, while slower growth may delay them.
The Bank of Japan is expected to gradually increase interest rates, supported by a projected rise in wages to 3.0% this year, up from 2.8% in 2024. Goldman Sachs anticipates that if wage growth aligns with these estimates, the BOJ will likely raise rates to 0.75% by July, maintaining a steady pace of hikes thereafter.
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Trump nominates Michelle Bowman as Fed vice-chair UBS delays net zero goal
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11:26 18.03.2025
german borrowing costs may reach highest levels since 2008 due to spending boost
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11:26 18.03.2025
ubs raises euro dollar fair value estimate amid yield declines
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ubs raises eur usd fair value estimate amid lower yields and market shifts
11:09 18.03.2025
ubs raises euro dollar forecast amid us economic concerns
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call for accountability and stronger supervision in swiss banking sector
11:01 18.03.2025
Goldman Sachs revises oil price forecasts amid demand concerns and OPEC supply increase
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bank of japan expected to gradually raise interest rates amid wage growth
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bank of japan expected to gradually raise interest rates amid wage growth
10:49 18.03.2025
bank of japan expected to gradually raise interest rates amid wage growth
10:49 18.03.2025
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