The Slow Dance Between Markets and Central Banks
All eyes are on First Republic, but what monetary authorities do this week matters more. Meanwhile, companies are enjoying healthy margins...for now.
Inflation: Tamed, not vanquished.
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As I write, there is still no white smoke over First Republic. I had been hoping to cover what looks set to be the second-biggest bank failure in US history, but as I write, approaching midnight in New York, negotiations between regulators and potential buyers are dragging on. High-stakes discussions with a midnight deadline are all very well, but they’re a tad trying if you’re hoping to write something about them, also with a midnight deadline. Particularly if that deadline is missed.