Kokkie Kooyman, who heads the Denker Global Financial Fund, is barely contained in his excitement about the outlook for certain global banks. Be those banks on the border of Russia or in the sleepy tourist towns of the old Yugoslavia, money is apparently to be made. And the big driver is central bank action.
Higher interest rates, as a cure to tame inflation, have historically led to economic recessions, or downturns at best. These downturns and recessions usually don’t bode well for bank loan performance, with a steady increase in bad debt — similar to what triggered the 2008 financial fallout...
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