This vertically integrated model enabled the Italian investment fund industry to grow rapidly, households to rely on relationships of trust with their banks when turning to asset management services, and banks to diversify their sources of income. Asset management offers Italian banks considerable scope for expanding their business, increasing their profits and improving their stock market ratios.
We hear of the divergent paths of recovery from Covid-19 and how movements in Advanced Economies are affecting Emerging Economies and Developing Economies. No matter how you work on the analysis, this divergence should be evident in market prices, alongside portfolio flows and reflows. The global economy is patently interconnected through the pipeline of bond and credit markets.