Financial analysis
Financial and banking regulation and its effects, the competitive structure of the banking sector, the means of payment for business financing and the role of finance in economic growth are some of the aspects discussed in this section.
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Artículo
Tensions in the U.S. and eurozone sovereign debt markets
Fecha:
June 2025
Transatlantic divergence in fiscal and monetary policies is driving renewed volatility in sovereign bond markets, with U.S. Treasury yields elevated and eurozone spreads widening, particularly in Germany. Going forward, the lack of economic policy coordination could continue to generate episodes of instability in international financial markets.
Artículo
Spanish versus European bank exposure to sovereign risk
Fecha:
June 2025
Spanish banks’ exposure to public debt has increased more sharply than the EU average, reaching 15.4% of total assets in 2024. Amortised cost accounting and international diversification help risk mitigation, while higher interest rates on public debt holdings have significantly boosted returns for the domestic business.
Artículo
Improving valuations for Spanish and European banks
Fecha:
June 2025
After years of trading below book value despite solid fundamentals, Spanish and European banks have seen a marked revaluation since late 2024, surpassing price to book value (P/BV) ratios of 1x. Improved margins have supported a strong recovery in valuations, narrowing the profitability gap with U.S. peers; however, structural and regulatory differences continue to explain the persistent valuation gap between European and U.S. banks.
Artículo
Perspectivas económicas de EE. UU. tras la llegada de la nueva Administración
Fecha:
May 2025
El futuro de la política monetaria europea dependerá del comportamiento de la inflación y el crecimiento económico, que se verían afectados si la guerra comercial con Estados Unidos sigue adelante. Asimismo, el anunciado fuerte aumento de gasto en defensa en Europa y el paquete fiscal de Alemania pueden generar inflación pero también efectos positivos en la inversión y actividad económica.