The major European banks have recently reduced their lag on the stock market compared with their American counterparts. This is the result of a faster US response to the 2008 financial crisis, stronger economic growth, stricter regulations and lower operating costs. Rising interest rates in Europe and the impact of real estate are also contributing to this recent trend.
To read the full commentary (in French) by Charles Chardonnens, Head of Investment Solutions, published in Le Temps, click here.