This post was originally published on this site. Closer supervisory attention could make banks more cautious about lending against private credit collateral, tightening funding for nonbank lenders and possibly raising borrowing costs for the mid-sized companies that rely on them. Bank stocks with large lending to nonbank financial firms may face more questions on disclosure and collateral valuations during the upcoming earnings season. The link to AI disruption risk in software loans adds a new channel through which tech-sector weakness could reach credit markets. The review also lands as broader risk assets look complacent compared with stress in sovereign bonds,...

This post was originally published on this site.Coming from the head of the world’s second-largest official gold holder, Nagel’s remarks reinforce the structural case that has kept gold above $4,000 despite multi-decade-high Treasury yields. Official-sector diversification, driven by sanctions risk and concerns over sovereign debt, is acting as a floor under prices even as rate expectations weigh on the metal. The Bank of Italy’s point that gold’s inverse link to real yields has weakened matters for traders. It suggests rate moves may hit gold less hard than history implies. The main counterweight is the Metals Focus forecast of slower central...