Steve Hussey
24 Years at AB|31 Years of Experience
Steve Hussey is a Senior Vice President and Head of Developed-Market Global Banks Research, covering banks in the US, Canada, Europe, Japan and Australia. Prior to joining the firm in 2000, Hussey spent six years at credit rating agency Fitch IBCA, where he was a director, responsible for the Spanish and Latin American banking sectors. He holds a BSc in business economics and accounting, and an MSc in international banking and finance from the University of Southampton (UK). Location: London
Published Work
Investors are taking fright at commercial real estate risks in Sweden. But we think the situation is less threatening than feared.
Once markets sense the crisis is past, fundamental and valuation factors can create an improved backdrop for selective financial credit investors.
As a leading investment management and research firm, AB's unique combination of expertise, insights and global reach allows us to anticipate and advance what's next-applying collective insights to help keep our clients at the forefront of change.
For European banks' stockholders, 2020 was a year to forget. But bank bondholders enjoyed positive returns and may overcome COVID-19 challenges again in 2021, backed by solid balance sheets and supportive regulatory conditions.
European banks' additional Tier 1 securities should survive a short bout of the coronavirus. But even in a prolonged pandemic, the risk/reward trade-off might be better than perceived.
The COVID-19 pandemic looked set to batter the world’s banks—and yet banks’ balance sheets are now the strongest they’ve been since the GFC.
European banks are up against it. Profits are under pressure, and disruptive technology is a huge challenge. But for banks' bondholders it's still summer—and will be for a while, we think.
European Banks have mostly been magnets for bad news and disappointment for their equity holders. But we believe other parts of the banks' capital structure offer solid returns, backed by resilient balance sheets.
Eurozone banks are watching the clock tick down on the European Central Bank's (ECB's) special support operations, which will start to lose effect from June 2019. Italian banks will be impacted the most. Investors should watch out for volatility-and pick their bank investments carefully.
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Now that the European Banking Authority (EBA) has announced its 2018 solvency test results, investors should feel less stressed about systemic risks to the banking sector. Overall, most banks fared well. But it's still important to be highly selective when investing.