Category Banks

Coinbase success – but what does it mean?

Coinbase’s direct listing was a muted success. It looks likely to trade in line with volatile bitcoin and other cryptos. On the back of the claims of increased “adoption” of Crypto by the Street, the exchange has first mover status meeting the need for the facilitation of safe crypto investment while expanding services for holders – but what does it fundamentally mean about the long-term future of the “crypto-ecosystem”?

What next, if anything, for Credit Suisse?

Markets were shaken but unstirred by the collapse of Greensill and the Archegos unwind trades. Credit Suisse is the ultimate loser of the two scandals – reputationally damaged and holed below the water line.  The bank is paying the price of years of flawed management, poor risk awareness. and its self-belief it was still a Tier 1 global player. Its’ challenge is to avoid becoming the Deutsche Bank of Switzerland – which it will struggle to do without a radical and unlikely shakeout.

Markets Rally, but what about COVID?

Markets look set to rally strongly into Q2, but are they over-exuberant? The rise in deaths and new strains in Brazil hints the Covid war isn’t won yet, there are rising political risks in Europe, and widening wealth inequality is apparent everywhere. Just how solid are our expectations of stability, renewed global travel and recovery if Covid is here for the long-term?