by info@responsa.ch | May 22, 2026 | Insights
What better title than that of a famous Clash song to describe the clash between Switzerland’s top political institutions and UBS? By now, the conflict goes far beyond banking regulation: it calls into question the historic relationship between Switzerland and its...
by info@responsa.ch | May 15, 2026 | Insights
Don’t worry! Let’s put this fear in the index. Let’s make it clear straight away that this post isn’t meant to scare you, nor is it about the VIX, which is often referred to in financial jargon as the ‘Fear Index’. In fact, we’ve borrowed the title from a brilliant...
by info@responsa.ch | May 8, 2026 | Insights
In our previous Insights, we highlighted how private credit could become a systemic problem for financial markets, but we were also very careful not to indulge in narratives that painted catastrophic scenarios. In fact, we have repeatedly emphasized that the current...
by info@responsa.ch | Apr 24, 2026 | Insights
We are at a significant turning point in the evolution of the private credit market: why are we so convinced? Several major Wall Street banks, including JPMorgan, Barclays, Morgan Stanley and Citigroup, have begun trading credit default swaps (CDS) linked to private...
by info@responsa.ch | Apr 17, 2026 | Insights
The title we have chosen for this in-depth analysis is certainly not an imperative, but a noun linked to a technical and legal term that characterizes most illiquid funds: the suspension of redemptions, which—in technical jargon—is called a “gate” (or “cancello” in...
by info@responsa.ch | Mar 27, 2026 | Insights
Where do we stand with private credit? Every new development in this area prompts us to provide updates. This week, Apollo Global Management is limiting redemptions because—as we have repeatedly noted—“semi-liquid” funds are revealing their structural trade-off:...
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