Mark Cassidy, director of financial stability at the Central Bank, noted that the 10 largest US companies have accounted for 45 per cent of gains of the wider S&P 500 since April. Most of the tech groups have major operations and are significant employers in Ireland. And he gives Ciarán his perspective on the current state of the Irish economy, and what we could be doing better. The Central Bank report also warned that market interest rates attached to corporate bonds are also at multiyear lows, relative to low-risk sovereign bonds, and “appear disconnected from the uncertain macroeconomic and geopolitical environment”. When asked about the potential impact on the European economy from US tariffs, Central Bank governor Gabriel Makhlouf indicated that he was more concerned about tariffs and trade barriers on the EU single market.
