General finance
- European Parliament includes gas and nuclear in the sustainable finance taxonomy
- Euro falls below the dollar for the first time 20 years
- Porsche IPO in Frankfurt, the largest European IPO since 1996
- Sell-off in UK government bonds led to a spike in interest rates and problems for pension funds
- ECB releases climate risk stress test
Banks
- Credit Suisse (2 minute profile) is restructuring, firing thousands of bankers
- Belgian sustainable bank NewB shuts down its banking operations (I predicted NewB’s failure years ago)
Inflation/central banks
- Inflation in the euro area keeps going up, reaching 10.7% in October
- ECB raised interest rates for the first time in 11 years. See my video explainer of the ECB’s interest rates
- ECB introduced the Transmission Protection Instrument (TPI), a bond buying scheme to prevent spreads blowing up
- Swiss National Bank reports a loss of 142 billion CHF for the first three quarters of 2022
- National Bank of Belgium announces first loss in 70 years (its stock also crashed)