Monthly Archives:

October 2020

Seven scary charts – happy Halloween!

It’s that time of year again.  US elections?  No – something even scarier.  This Halloween, we’ve found no shortage of spooky charts.  Here are our top seven, showing some of the most frightening spectres lurking below the surface of financial markets… don’t read them before bedtime.

One of the scariest aspects this year is the huge disconnect between asset prices and macro fundamental…

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This time is different: bust to boom — the t-shaped recession explained

The 2020 recession is a direct result of global government policy aimed at protecting populations from the virus outbreak. This has curtailed global growth dramatically, though in a very different way to previous recessions. In this blog we will explore the continuing implications of this and look forward to 2021.

This time is different

This recession is primarily a service-led …

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Crossing the Climate Rubicon: Energy Credit in Transition

Energy transition pathways — the move from fossil fuel-based to zero-carbon energy — involve long time-horizons and are highly uncertain, with divergent outcomes based on assumed scenarios. The Coronavirus pandemic dented oil demand and has potentially brought forward peak global demand, if it hasn’t happened already. Against that backdrop, European International Oil Companies (IOCs) have over…

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Egypt’s maiden green bond – a first for the Middle East and Africa

Egypt has just entered the green bond market, pricing a debut $750 million five-year issue. The bonds join a small but growing asset class of emerging market sovereign green bonds. Since Poland issued a green bond in 2016, there’s been growing green emerging sovereign issuance including by Fiji, Nigeria, Indonesia, Hungary and Chile. These have been joined by broader social, sustainable and pa…

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