Publications

A critical review of the ECB’s December 11th proposals to simplify banking regulation and their implications for AT1 instruments.

Here are the key takeaways from the third quarter 2025 earnings season of European banks and our 2026 outlook.

Are European banks closing the gap with US banks in 2025, despite their fragmentation and perfectionism?

Here are the key takeaways from the second quarter 2025 earnings season of European banks.

Here are the key takeaways from the first quarter 2025 earnings season of European banks.

Here are the key takeaways from the fourth quarter 2024 earnings season of European banks.

Trump’s tariffs spark market turmoil: European banks drop, AT1 spreads widen. Risks limited by strong fundamentals, low NPLs, and ECB rate resilience.

Impact of the 2024 European Union elections: An analysis by Jérôme Legras, Head of Research at Axiom Alternative Investments.

With inflation closer to target, central banks in advanced economies are set to begin cutting interest rates.

Banks’ fundamentals are the strongest in a decade: high capital ratios, rising profitability and attractive spreads, especially AT1s.

In a context of sticky inflation, recession fears and geopolitical tensions, investors shift away from risky assets toward, notably, money markets.

After early-2023 tensions, financial subordinated debt and AT1s offer attractive yields, supported by solid banking fundamentals.