In this edition of Insight Weekly
U.S. banks posted slower growth on both sides of the balance sheet in the first quarter, according to S&P Global Market Intelligence data. Total deposits across the industry were up 1.2% quarter over quarter, which was the weakest growth since the third quarter of 2020. Total loans and leases increased 1.0% in the first quarter, down from the 3.0% growth rate in the previous quarter. Also notable was growth in total securities falling to a three-year low of 0.2%.
Inflation and supply chain disruptions have affected cloud computing providers worldwide over the past year. Tech companies — including hyperscale cloud providers Amazon Web Services, Microsoft and Google — have enough market power and margin to absorb some cost increases, but they are not immune to wider and longer-lasting economic trends. Those with infrastructure in Europe are especially vulnerable to the impact of the war in Ukraine and efforts to reduce dependence on Russian energy supplies.
Ukraine war impact on mining in focus
Metals and Mining Research: Russia-Ukraine conflict impact on industrial metals markets
The metals market has been significantly affected by the Russia-Ukraine conflict, with prices being sustained at historically high levels by threats to physical supply and high power prices, despite overall subdued demand.
Ukraine aims to become major graphite supplier — when the war ends
The war in Ukraine has sharpened the focus on diversifying graphite supply, as the conflict has hindered potential production from Ukraine and Russia and has exacerbated supply chain issues.
Russian miners spinning off global assets to ease 'crushing impact' of war
Russia's invasion of Ukraine has crushed the stock prices of Russian mining companies, leading to an exodus from the country and pushing Russian miners to consider isolating any assets located elsewhere.
Deep dives
In-depth features looking at the impact of major news developments in key industries.
Financials
Growth slowing at US banks
U.S. commercial banks, savings banks, and savings and loan associations, which ramped up their balance sheets in the last quarter of 2021, are experiencing more tepid growth rates in the first quarter of 2022.
US bank M&A pace plunges as sellers seek higher prices
Only 10 U.S. bank deals were announced in April, down from 24 in April of 2021, as sellers' price expectations surge and the decline in U.S. bank stock prices makes it harder for buyers to meet those targets.
Slow US, Europe progress in digital currencies leaves holes in sanctions
Western nations' failure to keep pace with China and Russia in developing central bank digital currencies is weakening their ability to influence and oversee new global payment systems.
Insurance
Total US annuity considerations climb 7.5% in '21, hit record high
U.S. life insurers' total annuity premium and considerations jumped 7.5% in 2021 to $397.53 billion, according to a review of annual regulatory statements.
Fintech
Large payments, fintech companies post strong YOY results in Q1
The largest payments and financial technology companies delivered positive performances year over year in the quarter that ended March 31.
Credit and markets
Fed's big rate hike may do little to counter soaring inflation
The central bank faces criticism for continuing to drag its feet on monetary policy tightening despite the largest rate hike in 22 years.
Real estate
Dividend rates for nearly half of US REITs surpass pre-pandemic levels
Dividend rates for 48.3% of publicly traded U.S. equity real estate investment trusts now exceed pre-pandemic levels reported at the end of 2019, but 37.4% still pay lower dividend rates, according to an S&P Global Market Intelligence analysis.
Technology, media and telecommunications
451 Research: Major cloud providers and customers face cost and pricing headwinds
Inflation and supply chain disruptions have affected hyperscale cloud providers worldwide. Those with infrastructure in Europe are now especially challenged by the war in Ukraine and moves to reduce dependence on Russian energy.
Metals and mining
Rail service 'meltdown' constraining US coal sector in hot market
U.S. coal producers have been struggling to increase sales despite improved prices, in part due to constraints in shipping the coal to customers.
Energy and utilities
Nearly 15 GW of batteries planned at US solar, wind, gas plants in 2022, 2023
Developers plan to bring online 5,260 MW of battery capacity at new and existing power plants in 2022, nearly twice as much as in 2021, S&P Global Market Intelligence data shows. Another 9,662 MW of hybrid storage is planned to go online in 2023.
RRA Research: US retail electric prices rose markedly in 2021, may repeat in 2022
The overall electric price increase rose 5.24% in 2021, with the observed increase in price per kilowatt-hour consistent across residential, commercial and industrial customer classes.
ESG
European green bond market slows in Q1 as Germany, France lead issuance
Green bond issuance fell in Europe in the first quarter amid macroeconomic and geopolitical headwinds, though the continent is expected to remain a key driver for the market's growth.
The week in M&A
National Fuel subsidiary sells California oil and gas assets for up to $310M
United Community eyes high-growth Southeast markets in Progress Financial deal
Out-of-state buyers responsible for 2 of 3 Pa. bank buys in 2022
Asia-Pacific financial institutions M&A interest tracker
The Big Number
Read more here.
Trending
Read more here and follow @YizhuEvy on Twitter.
Insight Weekly is a newsletter published every Monday that highlights exclusive industry-focused reporting, market news and economic insights from the global newsroom here at S&P Global Market Intelligence.
Sign up here to receive Insight Weekly via email every Monday.
S&P Global Mobility and S&P Global Market Intelligence are owned by S&P Global Inc.