Banking Executives and Apollo CEO Discuss Soft Landing and Capital Rules Amidst US Economy Concerns

Banking executives in the United States recently discussed various topics including a potential soft landing for the economy, capital rules, consumer spending slowdown, and succession planning. They highlighted the criticism faced by banks for lending to both energy companies and renewable projects. The executives also emphasized the increased cooperation between the private sector and the government in the past decade. They acknowledged global uncertainty but noted the strong health of the consumer. Additionally, they mentioned the interesting trading environment and cautioned clients about longer-term fixed income investments. [ec0c8f24]

Apollo Global Management CEO Marc Rowan recently stated that a soft landing for the economy has been achieved, indicating that growth is continuing and recession has been averted. The US economy expanded by 1.6% in the first quarter, the slowest pace in nearly two years, but it is still growing. GDP growth for 2023 was 2.5%, defying predictions of a mild recession. Apollo's first-quarter earnings showed a 12% increase in total assets under management to $671 billion, with $40 billion in inflows and a record quarterly debt origination volume of $40 billion. Apollo shares are up 22% year to date, outperforming the S&P 500's 9% gain. [e49f6ed0]

In this edition of Moneycontrol Pro Panorama, Vatsala Kamat discusses various topics including startups losing sheen for employees, unfavourable policy fear for sugar mills, policies to boost affordable housing, misplaced infrastructure priorities limiting India's economic potential, and more. The global recovery is slowly but surely underway, and equity investors in India must take note. The article provides insights, tax queries, and expert opinions. It was first published on June 13, 2024, at 03:52 PM IST. [0fbc2a2b]