May 11, 2022

The EU can easily manage an immediate embargo on crude oil imports from Russia. Within two months or so, OPEC members could step up crude oil production to the levels of H2 2018 (which implies +3.3 Mbb/d vs. Q1 2022) and Norway, the US and the UK could add another +0.5 Mbb/d to global output.

May 10, 2022

The global electric vehicle (EV) market is booming: Sales more than doubled in 2021 and market share reached around 8%. This positive momentum is likely to continue, with estimated growth of +50% in 2022.

May 04, 2022

Inflation is back with a vengeance in the Eurozone, sending the cost of living to record highs. Aside from pandemic-related base and one-off effects, snarled-up global supply chains have failed to keep up with post-pandemic demand.

May 02, 2022

The starting shot for Germany’s green transformation, the Easter package announced last month calls for a near tripling of electricity generation from renewables by 2030.

Apr 28, 2022

After an election campaign dominated by the topics of dwindling purchasing power and surging energy prices, it is now time for an economic reality check in France. The first 100 days of Macron’s second term need to establish a roadmap to tackle three issues in urgent need of reforms.

Apr 26, 2022

Movements in interest rates alone cannot explain fluctuations in the earnings yield. We find that two variables – the long-term risk-free interest rate and, more surprisingly, the “expected” rate of capital gains (proxied by a weighted average of past equity returns) – explain the cyclically adjusted earnings yield of U.S. equities (S&P 500), which has dropped to a record low.