Posts from Sunday Jun 10 2012

FTfm on AV

Some highlights from Monday’s FTfm.

Top houses to take over in Europe
Mid-sized European asset managers are in ‘feeble’ financial health and will be increasingly squeezed by a handful of dominant houses, according to McKinsey & Co Read more

No bail-in, Spain?

Why shouldn’t equity and (at least in the short term) Spanish bonds rally?

 Read more

The paid-in Spain

“If the Spanish state has difficulty in financing itself outside Spain, then the difficulties will be even greater for those in the private sector…”

Circularity. Reinforcing the sovereign-bank loop. However you’d put it – this weekend’s ‘rescue’ deal for Spain’s banks seemed designed to avoid doing this. Or at least to avoid appearing to do so. Read more