Marc-Antoine COLLARD, Chief Economist, Head of Economic Research, Asset Management, Europe
The economy has relied on fiscal and monetary policies to liquefy financial markets, boost asset prices and drive economic growth by avoiding temporary liquidity problems turning into a crippling solvency risk. However, the IMF and the BIS recently warned of markets exuberance due to the disconnect between economic and corporate fundamentals on the one hand, and risk appetite on the other hand.
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